Zora, the native token of the Zora protocol, a web content platform3 where creators can experience, own and exchange content, reached a record level yesterday
This stage comes after a spectacular three -digit rally, which removed the token from its prolonged collapse. The price increase is allocated to a combination of strategic developments, in particular Binance term support and integration with the basic application.
Why is Zora Coin’s price increasing?
For the context, Zora was launched at the end of April, with 10% of its total supply of 10 billion tokens assigned to an air card to the first users. The token also obtained lists on major exchanges.
However, the initial excitement was short -lived. As user engagement and traffic decrease, the price of the token has followed suit.
Nevertheless, the part resumed the momentum in mid-July after its integration with the basic application. As Beincrypto reported, Coinbase launched the application on July 17 as a renamed version of its wallet.
This application uses the Farcaster and Zora infrastructure. It allows users to tokenize and exchange content.
The Zora token plays a crucial role in reducing content parts, payment of reference costs and participation in ecosystem incentives. This integration launched a rally, which was still stimulated by more catalysts.
On July 25, Binance Futures listed the Zorausdt perpetual contract with a 50x lever effect. The combination of increased accessibility and the utility increased the value of 360% Altcoin in last week.
Beincrypto data showed that Zora has reached a record peak of $ 0.099 on July 27 before undergoing a modest correction. Despite this, the token has seen an increase of 24.6% in the last 24 hours. At the time of writing this document, Zora was negotiated at $ 0.091.
With this price pump, the market capitalization of the token has also increased from around 35 million dollars to nearly $ 300 million, benefiting many investors.
“While Zora has affected a market capitalization of more than $ 300 million, a whale with a position of 3 times on Zora has a floating profit of more than $ 2.2 million,” said Onschain Lens.
It is not only the price that has increased. According to Lunarcrush data, Zora’s mentions increased from 2,893 to 8,378, marking an approximate increase of 189.6% in last week. Likewise, commitments increased from 4.2 million to 7.4 million.
This reflected an increase of approximately 76.2%. The room also obtained a place as one of the most trendy cryptocurrencies on Coingecko.
The activity of the Zora platform has also climbed. According to the latest Dune Analytics data, the total number of pieces created culminated at more than 54,000 on July 27. In addition, the number of unique designers has reached a record of 22,567.
These figures reflect the impressive return of Zora, demonstrating not only its recovery but also its growing influence. Although the future of the token will depend on market conditions, its current trajectory highlights the potential for combining social, financial and blockchain technologies.
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