LayerZero (ZRO), the native token of the cross-chain messaging protocol, surged by 40% over the past week as traders absorbed the unlocking of 25.71 million tokens and turned their attention to a scheduled ecosystem event on February 10, fueling speculation about significant announcements.
What happened: the token rally defies the unlocking pressure
The token unlocking on January 20, representing approximately 6.36% of the circulating supply, failed to trigger the wave of selling that typically follows such events.
Buyers on dips stepped in immediately. The market also absorbed another transfer of 57,3 million ZRO, worth 98 million dollars, to BitGo custody without visible impact on price, which analysts interpreted as institutional accumulation.
Starknet announced its integration with the LayerZero architecture, connecting to over 150 ecosystems via the Stargate interface for cross-chain transfers.
"LayerZero is now live on the Starknet Mainnet," the project stated. "A major step for Starknet's interoperability, connecting the network to over 150 ecosystems and unlocking large-scale omnichain liquidity."
Trading volumes have doubled to tripled compared to recent averages, according to market analyst CRYPTOMS, who noted that this movement "is occurring while the broader market remains calm, indicating that it is not a random price action."
Also read: What Drove Seeker's 200% Spike While Airdrop Recipients Rushed To Sell?
Why it matters: accumulation reflects strong conviction
On-chain data shows that the number of active wallets increased by 20% to 30% week over week, while the volume of cross-chain messages progressed in parallel.
Open interest in futures contracts increased by over 30% alongside the price, while funding rates remained neutral, suggesting measured leverage rather than excessive speculation. Liquidations of short positions totaling around 236,000 dollars added fuel to the rally as ZRO broke through resistance around 2.04 $.
"Once the resistance at 2.56 $ turns into support, ZRO could reach 3.35 $ this week," wrote analyst CryptoGuru, citing bullish MACD signals and a seven-day RSI high at 92.42.
The number of addresses holding at least 10,000 tokens has been steadily increasing for a month.
"The drama surrounding the airdrop strangely helped," wrote analyst BlockViz. "What remains is a base of holders that largely understands the product and is ready to play the long-term interoperability bet rather than sell instantly."
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