ZetaChain’s ZETA token surged by over 150% on its first trading day, with liquidations totaling $1.78 million within 24 hours. Despite a drop in trading volume, open interest showed a significant increase, signaling sustained investor interest.
ZetaChain, a major player in the Layer-1 blockchain sector, grabbed attention in the cryptocurrency market as its native token ZETA surged by more than 150% on its debut trading day. However, by Friday, the price stabilized at $1.81, indicating a consolidation phase for ZETA.
ZetaChain’s Liquidation Data and Market Performance
According to CoinGlass, the latest liquidation data revealed a total liquidation value of $1.78 million over a 24-hour period. Long positions contributed $1.09 million, while short positions added $691,110 thousand to the overall liquidation figure.
Despite the significant liquidation activity, there was a notable decrease in trading volume, down by 39.99% to $799.26 million. However, amidst this decline, the number of open positions surged by 21.65% to $40.13 million, indicating sustained investor interest.
ZetaChain’s Cross-Chain Capabilities and Smart Contract Support
ZetaChain boasts support for multiple chains, including EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and more, aiming to facilitate seamless data and native value transfers between different blockchains.
Moreover, ZetaChain recently announced native support for smart contracts. This development enables developers to create omnichain decentralized applications (dApps) capable of efficiently managing investments across multiple chains using a single contract.
ZetaChain’s ZETA Token Listings and Trading Features
Both Binance and Coinbase, two leading cryptocurrency exchanges, have recently announced the listing of ZetaChain’s native token, ZETA, further solidifying its presence in the crypto market. Following suit, OKX exchange revealed plans to offer ZETA/USDT perpetual futures trading with up to 50x leverage starting from February 2nd at 3:30 AM (UTC).
On the same date, OKX activated margin trading and Earn features for the ZETA token, complementing the listing of the ZETA/USDT pair on OKX’s spot cryptocurrency market on February 1st at 3:00 AM (UTC).
Continued ZETA Airdrop and Future Price Speculation
According to statements from ZetaChain, the ZETA airdrop remains active, reminding users to add their wallets to the claim list to receive ZETA tokens.
Market analysts anticipate a potential price rally for ZETA following the current consolidation phase, with some suggesting a target price of $5.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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