The ZETA token price is going to the moon, increasing by 150%, within just a few hours of its launch. While the price rises during the launch of a token is common in the crypto industry, ZetaChain took it a few steps further and rose by a whopping 150% within less than a half day today.
Let us look at the top 3 reasons behind the incredible price surge of ZetaChain today.
The ZETA token was launched on February 01, 2024, with a starting price of $0.8175. Within just 24 hours, the token price surged by more than 150% and reached a peak value of $1.8379.
At the time of writing, the ZETA token price is trading at $1.71, with a 85% rise in the last 24 hours and an overall growth of 210%. Adding to the price rise, its trading volume also increased significantly by 700% earlier today and is currently around $264.81 million.
There are several reasons behind ZetaChain’s price surge starting with its mainnet beta launch. The strong fundamentals behind the project is a big factor that is contributing to the price surge of ZETA tokens, combined with the initial hype of token launch. The following are the top 3 reasons behind ZetaChain’s price spike.
The first primary reason why ZetaChain’s price increased is because of its mainent beta launch that took place on February 01, 2024. Within a few hours of its launch, the price of ZETA tokens increased multifold. Adding to that, ZetaChain offers some unique features compared to the existing blockchains.
ZetaChain is an innovative blockchain network that enables interoperability with multiple blockchains such as Ethereum, Bitcoin, Dogecoin, Cosmos, and Tron. By addressing the pressing issue, which is Interoperability in blockchain, ZetaChain garnered immense attention from the industry.
The fact that the ZetaChain is compatible with Ethereum Virtual Machine (EVM) and other networks despite being another layer-1 blockchain is noteworthy. Thus, the ZetaChain blockchain enables seamless transfer of data and value across networks.
Another reason that added to the price surge of ZETA tokens is its token listings on multiple renowned crypto exchange platforms. Even though the project is not even a month old, all the popular exchanges started supporting ZETA tokens. And, they made it available to the investors, increasing accessibility to the ZETA token.
While KuCoin announced the listing of ZETA tokens on Jan 26, Bitfinex listed it on Jan 30. Apart from these platforms, ZETA token is available on OKX, Bybit, Coinbase, Bitget, etc. The combined efforts of these platforms in bringing the tokens to a wide audience has made a huge difference to its trading volume and market price.
After the ZetaChain mainnet was launched, it enabled users to claim their tokens in ZetaHub. The ZETA token airdrop took place in August 2023 and the project enabled all the eligible users to claim their tokens on February 01, 2024 when the mainnet was launched.
Since all the eligible users could claim their ZETA tokens at once, it caused the circulating supply to inflate. This further resulted in an increase in trading volume and price surge.
These are the top 3 reasons behind why ZetaChain (ZETA) price is up. However, much like the case with any other cryptocurrency, ZETA will also go through price correction!
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