LayerZero, a novel cryptocurrency project, has been making significant strides in recent times. It has been attracting massive interest following LayerZero Labs'
$21.3M safe multisig withdrawal from Binance which triggered a price surge. This interest has further spurred by impressive growth promises such as MOONHOP's 4900% growth forecast compared against Notcoin and LayerZero. The ZRO token ended up defying the trend in recent airdrops, soaring by 40% over the weekend, signaling bullish momentum. However, not all has been rosy for LayerZero. There has been a 7.9% price drop over the last seven days and a 17% fall amid controversy over what was referred to as 'not an airdrop'. This was despite
LayerZero integrating with the
Solana blockchain and enabling connectivity to 75 blockchains with its integration to
Flare. The airdrop process has faced difficulties, with
LayerZero warning
sybil airdrop farmers to self-report or face exclusion. The
CEO had to announce a pause to the 'bounty-hunter' process due to an influx of reports. In the end, airdrop allocations disappointed some DeFi users. Nonetheless, LayerZero continues to exhibit resilience. It has partnered with Initia Labs to develop an interoperability standard for Cosmos and continues to add to its cross-chain bridge network. Further, investors remain optimistic as ZRO price nears all-time highs.
LayerZero News Analytics from Thu, 22 Feb 2024 08:00:00 GMT to Fri, 19 Jul 2024 04:57:19 GMT -
Rating 6
- Innovation 7
- Information 8
- Rumor -3
