Cryptocurrency

Arbitrum

LayerZero

Standard

Spot

<ul> 
 <li>Leading exchanges Binance and Upbit have listed ZRO.</li> 
 <li>Arbitrum observed a 16,5000% surge in its daily revenue.</li> 
</ul> 
The anticipated airdrop of LayerZero’s ZRO token launched recently, with listings on major <a href="https://thenewscrypto.com/layerzero-zro-gains-momentum-with-listings-on-major-crypto-exchanges/" target="_blank" rel="noreferrer noopener">exchanges</a> including Binance, Bitfinex, OKX, ByBit, and Bitget. These listings significantly boosted the token’s liquidity and visibility, leading to an initial price surge reaching $4.80. 
However, the token’s price saw a decline following the introduction of a new ‘<a href="https://x.com/LayerZero_Fndn/status/1803742303204323494" target="_blank" rel="noreferrer noopener nofollow">Proof-of-Donation</a>‘ mechanism aimed at tax reduction, sparking community debate. It subsequently hit an all-time low of $3.12. As of the latest update, the price has decreased by 22.47% over 24 hours to $3.16. The market capitalization remains at $789 million with a trading volume of $666 million. The token has a total supply of one billion, with a circulating supply currently at 250 million. The fully diluted valuation (FDV) of LayerZero (ZRO) stands at $3.21 billion. 
In parallel, <a href="https://thenewscrypto.com/arbitrum-allocates-215-million-in-arb-to-boost-gaming-ecosystem/" target="_blank" rel="noreferrer noopener">Arbitrum</a>, a layer two technology, saw a significant increase in fees post-LayerZero’s token launch, boosting its daily revenue by a staggering 16,500% to $3.43 million. This marks a 16,680% surge compared to the previous day, highlighting the impact of LayerZero’s activity on the broader blockchain ecosystem. 
<h3 class="wp-block-heading" id="h-will-zro-bulls-come-back">Will ZRO Bulls Come Back?</h3> 
The daily Relative Strength Index (RSI) stands around 31, indicating significant selling pressure. Looking over the 24-hour price chart, ZRO’s initial resistance is around the $3.26 range. If the bulls maintain the upward momentum, the next key resistance level can be at $3.37 and further gains carry the price to the $3.40-$3.50 range. 
Conversely, if the bears continue to run ahead of the bulls, ZRO’s price could dive to $3.10. Further declines may push the token’s price to a support level of $3. If the bears continue to dominate the price, they could fall into the $2 range. 
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Will ZRO Bounce Back After Arbitrum’s Massive Revenue Surge?

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