Zora Token Surges Amid Whale Accumulation and Network Growth
On Monday, September 9, Zora’s price reached unprecedented heights, soaring 14% to its loftiest point since August 28. This impressive climb aligns with meaningful whale activity and declining exchange balances.
The Zora token (ZORA) surged to $0.0830, marking a 27% increase from its recent lows. As the start of the year, it has skyrocketed by 895%!
Whale investors played a pivotal role in this rally. Data from Nansen reveals that whales now hold 8.34 million ZORA tokens, a 56% jump in just 30 days.Similarly, smart money investors increased their stake, holding over 13.40 million tokens.
- Supply in exchanges hit a historic low.
- Market cap of top creator tokens leaped to $38 million.
- Kazonomics, the leading creator, saw a 462% rise in the past week.
This surge coincides with broader network growth. Per CoinGecko, the value of Zora’s main creator coins climbed 33.6% to exceed $58 million.
Zora’s prominence spiked further when Coinbase introduced The Base app—an upgrade focused on social media, chat, and trading. As part of this ecosystem, Zora empowers users to tokenize their posts.
Technical analysis suggests continued bullish momentum. the daily chart indicates a potential breakout, targeting $0.100—a 35% hike from today’s levels. A slip below $0.0665 could, however, signal a bearish reversal.
