ZORA Surges on New Network State Token Launch by Ex-Coinbase Leader
On May 26, ZORA token saw a massive 44% spike. This was after ex-Coinbase CTO Balaji Srinivasan announced a new token on the Zora platform.
The Network State token, inspired by Srinivasan’s 2022 book, went live on May 26, 2025. It quickly became a hot topic. Within hours, its market cap fluctuated between $2.7 and $7 million.
Zora is a platform that turns content from decentralized apps into ERC-20 tokens. Users can mint text, images, videos, or audio into tradable assets. The platform handles minting, and assets are listed on exchanges like Uniswap.
Srinivasan’s involvement boosted ZORA’s market cap beyond $38 million.trading volume soared 256%, hitting $48 million within 24 hours.
Launched in 2020 by ex-Coinbase employees, Zora decentralizes media and empowers content ownership.Initially for NFTs, it now supports on-chain content from apps like Farcaster.
In 2023,zora introduced a Layer 2 network for better scalability. It launched the ZORA token on April 23, 2025, on Base, Coinbase’s Layer 2. The token has a 10 billion capped supply,with 10% airdropped to early users.
While The Network State is a seperate asset, it indirectly benefits ZORA. Investors see ZORA as a safer way to gain exposure to the hype around the new token.
