LayerZero’s ZRO jumps 30% after Cathie Wood backs ‘Zero’ chain
LayerZero's ZRO token surged 30% following the announcement of its new high-performance Layer-1 blockchain, Zero, and the appointment of Ark Invest's Cathie Wood as an advisor. Wood expressed strong support, stating that finance is moving on-chain and that LayerZero will be a core innovation platform in this shift. The project is also supported by major financial institutions like Citadel Securities, DTCC, and ICE.
ZRO price jumped from $1.8 to $2.3, extending its February recovery gains to 81%. However, the rally faces resistance at the $2.4 level, which may trigger selling pressure. The RSI suggests limited upside momentum, with a potential retest of $1.8. A break above $2.5 could target $3.0.
Derivatives market activity showed open interest nearly doubling to $154 million, but exchange net position change hit a five-month high of $7 million, indicating significant selling into the rally. Analysts speculate ZRO could soon rank among the top 20 crypto assets.
ambcrypto02/11 23:01