Zora Token Jumps 50% Amid Increased Trading Volume and Derivatives Listings
Zora (ZORA) Overview
- Zora price increased by nearly 50% in 24 hours, reaching over $0.13.
- Week-long rally totals over 118%, with a market cap of $450 million.
- No specific news event triggered the demand spike; likely due to large token purchases for anticipated volatility.
- On-chain metrics indicated 47,000 coin issuances from 21,000 creators on Sunday, highest since July 31.
- Trading volume surged to $284 million on Sunday from under $160 million the previous day.
- Major derivatives platforms, including Binance, launched ZORA perpetual contracts with leverage up to 50x.
- Improved retail access and creator activity after Zora was added to the “Base App” discovery flow in mid-July.
- Zora token launched in April via retroactive airdrop, resulting in a tight free float.
