LayerZero's native token, ZRO, has emerged as a standout performer in a sluggish crypto market, rallying over 19% in the last 24 hours while major assets like Bitcoin and Ethereum face pressure. The token's price has reclaimed the $2 psychological threshold and surpassed key moving averages, with momentum indicators like RSI and MACD signaling building bullish pressure.
The rally is largely fueled by strong retail and trading interest, with 24-hour trading volume soaring to over $162 million. Futures trading activity has also increased, highlighted by a 32% rise in Open Interest to $122.20 million in the past day, indicating significant long position buildup. Analysts note that retail-driven momentum has historically had a strong impact on LayerZero tokens.
A key factor influencing the price surge is an upcoming token unlock event, with approximately 25.7 million ZRO tokens scheduled to enter circulation soon. This has triggered speculative buying as investors position themselves ahead of the potential supply increase. The token has recovered over 60% from its demand zone around $1.20 since the start of 2026, with technical analysis suggesting that a convincing break above $2.20 could target previous swing highs around $2.50.
However, the price strength contrasts with weakening on-chain fundamentals. Network activity metrics such as active addresses and transaction counts have declined, creating a divergence that suggests much of the recent appreciation is market-driven rather than utility-borne. This serves as a cautionary backdrop, with analysts warning that failure to hold above $2 could expose ZRO to correction risks.
The broader LayerZero ecosystem is also contributing to positive sentiment. The recent listing of TRIA perpetual futures contracts on Binance reflects growing derivatives interest in LayerZero-related tokens, which indirectly supports ZRO through sentiment and capital flow. LayerZero's cross-chain interoperability technology remains a fundamental strength that encourages long-term investor confidence.
