ZetaChain’s Impressive Debut
The Layer-1 interoperability platform, ZetaChain, had a remarkable start in the crypto market as its native token, ZETA, surged by over 150% on its first day. However, after reaching a peak of $1.81, the ZETA price has entered a consolidation phase.
$1.81 Million in Liquidations
According to data from CoinGlass, ZetaChain witnessed liquidations totaling $1.78 million within a 24-hour period. Long positions accounted for $1.09 million, while short positions contributed $691.11 thousand to the overall figure. The trading volume experienced a decline of 39.99% during this period, amounting to $799.26 million. On the other hand, open interest increased by 21.65% to reach $40.13 million.
Revolutionizing Blockchain Interoperability
ZetaChain is an innovative Layer 1 blockchain platform that enables seamless data and value transfers between various blockchains with its chain-agnostic capabilities. It supports multiple chains including EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and more. Additionally, ZetaChain provides native support for smart contracts, allowing developers to create omnichain decentralized applications (dApps) that efficiently manage funds across multiple chains through a single contract.
More Exchanges List ZETA
Binance and Coinbase were among the first crypto exchanges to list ZETA. OKX also introduced a USDT-margined ZETA contract on its perpetual futures market and activated margin trading and Simple Earn features for the token. ZetaChain announced that their ZETA airdrop is still ongoing and users need to whitelist their wallets before claiming the tokens.
Hot Take: ZETA’s Potential to Reach $5
Despite the consolidation phase, some market analysts believe that the ZETA price rally could resume and the cryptocurrency has the potential to reach $5.
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