ZRO Token Surges Over 30% Following Acquisition Proposal by LayerZero
LayerZero's ZRO Token Surge
- LayerZero's native token, ZRO, increased over 30% to $2.49.
- 24-hour trading volume surged by 1,087% to $433 million, indicating rising investor interest.
- Market cap rose by 29% following a proposal for a $110 million acquisition of decentralized finance platform Stargate (STG).
- The proposed swap rate is 1 STG to 0.08634 ZRO, pending approval from Stargate’s community.
- Recent ETH/BTC ratio rose 38.53%, showing increased appetite for altcoins.
- Proposal open for feedback for seven days before a vote; mixed reactions from STG holders regarding the swap terms.
- STG gained 20% to $0.197 following the acquisition news.
- ZRO shows potential bullish momentum; analysts predict a rally toward $3.20 if it closes above $2.30.
- ZRO remains down 67% from its December peak of $7.47.