DoubleZero Soars 29%, But Upcoming Token Unlock Looms

DoubleZero (2Z) surged by over 29% in the past 24 hours, making it the top performer among the top 200 cryptocurrencies by market capitalization. The rally came as part of a broader crypto market rebound.

The charts show that 2Z has been making higher highs and lows since breaking its trendline. The recent surge cleared liquidity clusters above $0.060, allowing the price to move past $0.075.

According to CoinGlass data, Open Interest (OI) in 2Z jumped by 113%, indicating bullish positioning. Volume also rose by 107% to surpass $50 million at press time.

The token unlock schedule shows that about 1.77 billion 2Z tokens worth over $124 million will be released on October 2nd, representing 17.79% of the max supply. This could put pressure on the uptrend that has been in place since September 16th.