Crypto
LayerZero Price Surges Despite Whale Activity and Selling Pressure
The price of LayerZero (ZRO) has been showing significant strength over the past few days, surging more than 25% from its July lows.
In the past 24 hours, ZRO's price increased by over 10%, extending its recovery despite renewed selling pressure.
A wallet linked to LayerZero's Mint MultiSig transferred $1.13 million worth of ZRO to Binance, marking the largest transfer yet.
Despite this whale activity, the derivatives market suggests that the selling pressure may have been absorbed by fresh capital entering the market.