LayerZero (ZRO) is a project focused on the task of interoperability, connecting different blockchain networks so that they are compatible with each other.

In the same way that the internet eventually fell under standardized protocols after a decade of development, LayerZero’s ambitious goal is to standardize blockchain app development throughout the Web3 space.

What is the LayerZero token price right now?

ZRO is currently trading at $ 3.93, up 39.8% over the last 7 days.

LayerZero token price is also inching closer towards its all-time high of $4.57 which it reached on June 20 before slumping to $2.51 a week later, becoming the biggest loser in the crypto market for the day and shedding $600 million from its market capitalization.

The current market cap is over $400 million.

It’s worth noting that ZRO price history only goes back as far as June 20. This is a new, high-risk project with no track record in terms of proven utility as of yet.

What is causing LayerZero coin price to rise?

There are no particular project developments or ZRO coin news that could be pumping the price of ZRO. Heavy volatility for a brand-new and untested coin is not uncommon.

The project saw ZRO price falling towards the end of June when some users reported not receiving their share of a major airdrop used to promote the launch.

Developers corrected this error after receiving the complaints. It’s also apparent that many crypto users fell prey to a LayerZero scam impersonating the real team and soliciting airdrop purchases without any reward in store. Overall, the tumultuous airdrop likely caused doubt and uncertainty in the stability of the price, contributing to the volatility.

After seeing a strong start turn to a major correction, many traders may have viewed the price drop as an opportunity to buy ZRO at what they considered to be an undervalued rate, causing a major surge in price.

ZRO coin price prediction 2024 – 2025

As ZRO is a brand new coin, there’s really no telling what the coin will do next. However, we can outline some important factors that traders might do well to keep in mind when assessing the value of the project.

Firstly, the utility of the project can be examined. Interoperability is a crucial step in expanding the Web3 ecosystem, and LayerZero is certainly cashing in on the promise of being a big player in that space.

Savvy investors will likely be studying the track record of the team’s work history and the success of their past projects as well as the viability of LayerZero’s value proposition in general when making a decision.

LayerZero (ZRO) utility

Can LayerZero really standardize blockchain app development?

What we do know is that the team are not anonymous, alleviating concerns among some crypto investors, with LayerZero founded in 2021 by Bryan Pellegrino (CEO), Ryan Zarick (CTO), and Caleb Banister. The project raised $120 in Series B funding in 202.3.

The project claims to be more secure and scalable than Cosmos, a competitor in the blockchain ineroperability space, although this has not yet been fully explored and proven right or wrong as of yet.

With major backers like Sequoia Capital behind them and competent leadership, the project could indeed position itself to corner a piece of the market in years to come.

However, at just two weeks old, ZRO is a risky purchase with no price history to review. Investors could gain an understanding of the project by reading the whitepaper and gaining a sense of LayerZero’s potential edge over competitors when considering ZRO as a possible investment.

Pepe Coin Price Analysis: On Wednesday during the Asian trading hours, the crypto market witnessed a surge in selling pressure as Bitcoin price fell nearly 4%. The BTC revisiting the $60000 sparked the possibility of a downtrend continuation in most of the major altcoins including PEPE. The Frog-themed memecoin is down 8% today, extending the correction fall with a channel setup. Should you stay invested?

Also Read: PEPE Price: Whale Sacks 1.2 Tln Coins Amid Monthly Crash, Is Price Gearing Up For Rally?

Pepe Coin Price Analysis: Whale Dumps $112,000 Worth of Tokens Amid Downtrend

The current correction trend in Pepe coin was initiated at May End as the price reverted from  $0.00001725. Since then, the meme coin has witnessed a steady downtrend of lower highs and lows resonating with two downsloping trendlines.

The bearish turnaround has tumbled the asset 39% down to $0.00001048, while the market cap plunged to $4.42 Billion. An analysis of the daily chart shows the falling trendline reveals the formation of a bull flag pattern. This chart pattern is known to drive temporary counter-trend moves for buyers to recuperate their strengths.

Despite the correction, the PEPE price is still above the 50% Fibonacci retracement tool indicating the long-term trend remains bullish and buyers remain a dominant force in this asset.

However, the PEPE is currently in downward momentum and a recent sell-off from smart money hints at a breakdown below $0.00001. A major whale, dimethyltryptamine.eth, has re-engaged with PEPE after a 10-month hiatus, selling 10 billion PEPE tokens (worth $112,000) for 32.73 ETH. 

Also Read: Binance Announces Delisting Of Key Crypto Pairs, Brace For Market Impact

After over 10 months of inactivity with $PEPE, dimethyltryptamine.eth returned to sell 10B $PEPE ($112K) for 32.73 $ETH ~5hrs ago.

Notably, dimethyltryptamine.eth was an early $PEPE buyer who turned $45K into $26.7M (+58.6K%).

Currently, the whale holds 1.99T $PEPE ($21.9M).… pic.twitter.com/dlTwu3Q4u9

— Spot On Chain (@spotonchain) July 3, 2024

Early investment by this whale turned $45,000 into $26.7 million, marking a 58.6% gain. Currently holding 1.99 trillion PEPE tokens valued at $21.9 million, the whale’s activity underscores the profitability of early investments. However, the recent sell-off suggests the large holder may not expect a strong upside in PEPE in the near time.

Thus, a breakout from the flag pattern resistance is necessary to end the current correction trend. With sustained buying, the post-breakout rally could surpass $0.0000135 and rechallenge the $0.00001725 peak.

Technical Indicator

• BB Indicator: The downtick in the lower Bollinger Band accentuates aggressive selling and no sign of reversal yet.
• ADX: An uptick in the daily Average Directional Index slope at 20% indicates the sellers are gaining momentum which could lead to a prolonged downfall.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.