2025-8-25 10:12 |
TL;DR
ZRO is down 7.5% and is now trading at $2.01. The bearish performance comes despite Stargate DAO approving LayerZero’s acquisition proposal. Stargate DAO approves LayerZero’s acquisition proposalThe cryptocurrency market was volatile over the weekend, with massive gains recorded on Friday wiped out on Sunday. Bitcoin briefly dropped to the $110k region while Ether is now trading above $4,700 after setting a new all-time high of $4,953.
The bearish performance affected LayerZero’s ZRO as the coin has now lost more than 7.5% of its value in the last 24 hours. Thanks to this bearish trend, ZRO is now trading at $2.01.
The negative performance comes despite a massive development for the LayerZero ecosystem. LayerZero Foundation announced on Saturday that Stargate’s governance organization has approved its acquisition offer with nearly 95% of votes in favor.
The Stargate DAO has approved our acquisition of Stargate (STG).
We’ve spent four years building the rails to reinvent how value moves. Today, we accelerate our network effects.
LayerZero is better money technology.
Stargate is the interface for value transfer. pic.twitter.com/U1QI1308dV
— LayerZero (@LayerZero_Core) August 24, 2025
The approval came despite Wormhole making a late $120 million cash offer. Furthermore, Across co-founder Hart Lambur and the Axelar Foundation both said they would make formal bids if the process was slowed.
ZRO could top $2.6 if bullish momentum returnsThe ZRO/USD 4-hour chart is bearish and efficient as LayerZero has been underperforming, similar to the broader cryptocurrency market. The technical indicators are also bearish, indicating that the sellers are currently in control.
The RSI of 54 shows that ZRO is heading into the negative territory if the sell-off continues. The MACD lines are also close to switching into the bearish region.
If the sell-off continues, ZRO could drop to the Friday low of $1.85 over the next few hours. Failure to defend this support level could see ZRO retest the monthly low of $1.625.
However, with the positive news coming from the LayerZero ecosystem, ZRO could bounce back and reclaim the first major resistance level at $2.38. An extended bullish run would see ZRO surpass its monthly high and hit $2.60.
The post ZRO targets $2.60 as Stargate approves LayerZero’s acquisition proposal appeared first on CoinJournal.
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