ZORA(ZORA)up 44.96% in 24 hours

Gate News Bot news, August 11, according to CoinMarketCap data, as of the time of writing, ZORA(ZORA) is currently priced at $0.14, rising 44.96% in the last 24 hours, with a peak at $0.14 and a low of $0.06. The 24-hour volume reached $282 million. The current market capitalization is approximately $443 million, an increase of $137 million compared to yesterday.

Zora is a decentralized NFT creation and trading platform designed to provide creators with a better value capture mechanism.

Important news about ZORA recently:

1️⃣ Whale investments yield substantial profits, attracting market attention A large investor purchased 18.807 million ZORA tokens last month for $263,000, and this investment has now appreciated to $1.555 million, with an unrealized profit of approximately $1.3 million and a return on investment of 500%. The address has not sold any tokens, demonstrating the investor's confidence in the long-term value of ZORA.

2️⃣ Base ecosystem expansion drives ZORA rise The Ethereum Layer 2 network Base supported by Coinbase has surpassed Solana in daily token issuance, a change primarily driven by the Zora platform. Zora's "Creator Coin" model transforms content into tradable assets, and together with the Base App's transition to a SocialFi entry point, the ZORA token has risen over 500% in the past month.

3️⃣ Zora platform activity hits a new all-time high After the relaunch of the Base App, the activity on the Zora platform has significantly increased. The platform has minted over 1.6 million creator tokens, attracting nearly 3 million independent traders, with a total trading volume of $470 million. This explosive growth reflects the strong interest in the Zora platform and the ZORA token.

From a technical perspective, the price of the ZORA token is highly volatile. Despite a strong recent performance, it has also experienced significant price fluctuations. Investors should closely monitor the development trends of the creator economy on the Base chain, as well as the long-term sustainability of the Zora platform.

This message is not an investment advice, and investors should be aware of market volatility risks.

ZORA30.14%
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