Zora Token Price Plummets 95% Amid $1M Unlock and Coinbase Delist
Zora (ZORA) has entered a volatile phase due to two bearish events: Coinbase delisting ZORA perpetual futures and a $1 million token unlock. The token's price has plummeted, with its value falling by over 95% from its all-time high of $0.146 in August 2025.
The token unlock released around 166.67 million ZORA tokens on August 30, representing about 1.67% of the total supply. This increase in available tokens creates an overhang and potential selling pressure. However, recipients can choose to hold their allocations or utilize the liquidity, and it does not guarantee immediate sell-off.
The Coinbase delisting of ZORA perpetual futures on August 26 reduced access to leveraged trading for the token, hurting derivatives liquidity. This move is a warning sign for demand, but it's not specific to ZORA, as Coinbase removed several contracts in a larger action.