2024-6-21 11:15

Lista DAO (LISTA) and LayerZero (ZRO) have experienced major price surges in the past 24 hours, according to data from Binance. Let’s delve into the details of these wild price movements and explore the factors driving this sudden interest.

LISTA’s Meteoric Rise

Lista DAO (LISTA) has witnessed a price increase of over 4000% in just 24 hours. This unprecedented surge has left many in the crypto community scrambling to understand the catalyst behind such explosive growth.

Binance MegaDrop and LaunchPool

A key factor in LISTA’s price surge appears to be its listing on Binance, one of the world’s largest cryptocurrency exchanges. As reported by the X account @layerggofficial, LISTA was featured in a Binance MegaDrop event, which likely contributed to increased visibility and demand for the token.

Airdrop Distribution and Trading Activity

Data from @spotonchain reveals interesting insights into LISTA’s token distribution and subsequent trading activity:

The token price has risen 37% since its airdrop and exchange listings. Approximately 59% of the claimed airdrop tokens (31.1 million LISTA) were concentrated among just 12 receiving entities. In the 20 hours following the airdrop, 25 million LISTA tokens (valued at $16.8 million) were either sold through decentralized exchanges (DEXs) or deposited on centralized exchanges like Binance and Bitget.

This concentration of tokens and subsequent trading activity may have contributed to the token’s price volatility and rapid appreciation.

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LayerZero (ZRO) Gains Momentum

While not as dramatic as LISTA’s surge, LayerZero’s ZRO token has also seen major gains, with a 220% increase in the last 24 hours.

The official X account of KuCoin exchange (@kucoincom) announced the commencement of the LayerZero airdrop, with 85 million ZRO tokens available for distribution on the first day. This event has likely sparked interest and demand for the token.

Market Valuation and VC Comparison

Crypto analyst Miles Deutscher (@milesdeutscher) offered an interesting perspective on ZRO’s market valuation:

The token is currently trading at a fully diluted valuation (FDV) of approximately $4 billion. This valuation surpasses the $3 billion valuation at which the project raised funds from venture capitalists in 2023. Deutscher suggests that retail investors buying ZRO on the open market may be getting a better deal than early VC investors, considering the long lock-up periods typically associated with private investments.

New Futures Listing

Adding to the momentum, Orderly Network (@OrderlyNetwork) announced a new futures listing for ZRO, offering trading with up to 10x leverage on Orderly-powered decentralized exchanges (DEXs). This development may contribute to increased trading activity and liquidity for the token.

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The post Lista DAO and LayerZero (ZRO) Crypto Prices Are Pumping: Here’s Why appeared first on CaptainAltcoin.

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