Multicoin

LayerZero

Security

Billion

Rise

<ul class="list-ic vertical">
 <li>1 <a>ZRO displayed a 100% surge in trading volume, with a liquidity ratio of 122.65%.</a></li>
 <li>2 <a>Current indicators highlight potential for further price increases.</a></li>
</ul>
An omnipotent interoperability protocol, LayerZero (ZRO), has been designed for secure messaging across multiple blockchains. The spot market cap was valued at $369.497 Billion, while the FDV of LayerZero crypto was $3.358 Billion. The total supply stands at 1 Billion ZRO, where only 11% is in circulation.
According to Coinmarketcap, there was a 100% spike in ZRO’s trading volume. The volume-to-market cap ratio highlights strong liquidity in the market, where the ratio stood at 122.65% at press time.
The sentiment for ZRO is bullish as the fear and greed stood at 56 with the meter showing a rise towards greed. The price has been in an uptrend this week. Meanwhile, in the crypto landscape, the market cap dominance of LayerZero, which stood at 0.04%, ranked 150th on CMC.
The financial health of the crypto is healthy, as Chainbroker rated it 8 out of 10, in terms of fundamentals. Development activity and online presence on social platforms are also considerably good, with that it scored 9.50 out of 10 in terms of socials and developments.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfSfAWBUonUiPd0uk6QSzxhWop6SVj_SEcb56-4GU1fyLuGTO-fcLjyUiatIvaIiI6ivzE_cXXJp9LvJGoUMYIqRSqIzZzXxdzvqxCCi2Us0tTAQr5n53Kqji-pejQeNbUxAmLU61NKPiDBt8IVQpefKvhJ?key=NlHoAkuZ4fvBh7bH02iFVw" alt="">
 </figure>
</div>
Security Score | Source: Chainbroker.io
Some of the major backers of the crypto are Binance Labs, FTX Foundation, a16z, and Multicoin Capital. The LayerZero crypto has a security score of 90.07, with an AA-tier security, which happens to be verified by Certik Skynet.
<h2 class="wp-block-heading" id="strong-layerzero-crypto-derivatives-data-analysis-strong">LayerZero Crypto Derivatives Data Analysis</h2>
The LayerZero crypto’s liquidation chart shows higher short liquidation, indicating that the bulls have more control over the price. In the last 24 hours, a massive amount of shorts worth $1.94 Million were liquidated, whereas longs worth $833.92K were liquidated.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdTU7yYyXEvuYcf8lwIeVpyRPxSGV84FIEJ_e_aK8RMiB2XAJgV9wNrQkPoMk0ma_Cna0Rd1ViBYfGqBsNbhtRvWq1XeZY3Na94EOJcqwlCaVw5FXtjLn6KnIsd0HB5x2oTowyW76SRbRso2dd376wjl6Ug?key=NlHoAkuZ4fvBh7bH02iFVw" alt="">
 </figure>
</div>
LayerZero Crypto Derivatives Liquidation Chart | Source: Coinglass
Furthermore, in the derivatives, the open interest showed a massive surge of 88% in the open contracts of the LayerZero crypto. Similarly, in the past 24 hours, LayerZero (ZRO) has recorded a strong surge of more than 200% in the trading volume of the derivatives.
<h3 class="wp-block-heading" id="strong-layerzero-zro-crypto-technical-analysis-strong">LayerZero (ZRO) Crypto Technical Analysis</h3>
Surpassing significant barriers, the<a href="https://www.thecoinrepublic.com/2024/06/22/3-top-cryptocurrencies-to-watch-this-week-zro-strump-biao/" target="_blank" rel="noopener noreferrer nofollow"> ZRO cryptocurrency</a> price surged to a particular peak, highlighting a robust bullish price action for the crypto.
ZRO hit a low of $2.46 on June 27, 2024, and since then, it displayed a steady rise in price. This was later followed by a higher peak on the chart. After reaching the lowest point, the cryptocurrency’s price surged by 40% within a span of only two days.&nbsp;
At press time, ZRO was above the breakout level, indicating the potential for further price increases to higher levels. 
<a href="https://in.tradingview.com/chart/ZROUSD/vDCO6KWB-EMA-bands-for-continuation-towards-the-higher-price-levels/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
The 50-day and the 200-day EMAs demonstrated bullishness, as the price surpassed these dynamic resistances of EMA bands. Also, the EMA bands are in an older golden cross. Under the influence of the golden cross, the price could possibly take support at the EMA bands and continue towards the higher price levels.&nbsp;
The MACD was in the bullish vicinity but presented a bearish cross due to price dip, which was confirmed by the histogram’s growing negative graph.
The RSI fell from the overbought zones after the price peaked at its limit and fell below the 14-day SMA. The RSI further touched the median level of 50 from where it took support. This shows that the RSI could still be trading in a bullish cycle.
<h3 class="wp-block-heading" id="strong-summary-strong">Summary</h3>
LayerZero (ZRO) had a market cap of $369.497 Billion at press time with the FDV at $3.358 Billion. Backed by major investors, its financial health and security score are strong.
LayerZero crypto’s open interest surged by 88% in derivatives contracts, with trading volume up by over 200% in the past 24 hours. ZRO price hit a low of $2.46, then surged by 40% in two days.&nbsp;
<h4 class="wp-block-heading">Disclaimer</h4>
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

With High Volume & OI, Can ZRO Price Rise To The $10 Mark?

Obsah

Thecoinrepublic.com

Ďalšie články zverejnené 1. 7. 2024

Bitcoin Price Spikes 5%, Can BTC Bulls Take Back Control?

How to Buy Mirror Protocol Coin?

Solana Meme Coin Skyrockets 1,500% After 'Roaring Kitty' Reveals This

Mt. Gox $9 Billion Repayment Triggers Bitcoin Sell-Off Fears

Jesse Powell Donates to Donald Trump: Kraken Co-Founder Sends $1M in Ether

Crypto: Massive BTC Liquidation by Germany and the USA

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!