LayerZero (ZRO) Price Tests Critical Support as $47 Million Token Unlock Begins Today
- LayerZero is set to unlock nearly 25 million ZRO tokens, worth ~$47M, today, June 20
- The token’s price is already in a short-term downtrend, testing critical support levels
- This combination of a supply increase and bearish technicals creates a high-risk outlook
The LayerZero (ZRO) token is heading into a period of significant pressure as a major supply unlock, set for today, June 20, coincides with an already bearish technical setup on its price chart. This combination of imminent inflationary pressure and weak market momentum has created a high-stakes environment for the interoperability protocol’s native asset.
The event will see nearly 24.7 million ZRO tokens, valued at approximately $47 million, enter the market. This represents a substantial increase to the currently circulating supply and is the first of a series of monthly unlocks scheduled to continue through May 2027.
A $47 Million Supply…
The post LayerZero (ZRO) Price Tests Critical Support as $47 Million Token Unlock Begins Today appeared first on Coin Edition.
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LayerZero (ZRO) Price Tests Critical Support as $47 Million Token Unlock Begins Today
- LayerZero is set to unlock nearly 25 million ZRO tokens, worth ~$47M, today, June 20
- The token’s price is already in a short-term downtrend, testing critical support levels
- This combination of a supply increase and bearish technicals creates a high-risk outlook
The LayerZero (ZRO) token is heading into a period of significant pressure as a major supply unlock, set for today, June 20, coincides with an already bearish technical setup on its price chart. This combination of imminent inflationary pressure and weak market momentum has created a high-stakes environment for the interoperability protocol’s native asset.
The event will see nearly 24.7 million ZRO tokens, valued at approximately $47 million, enter the market. This represents a substantial increase to the currently circulating supply and is the first of a series of monthly unlocks scheduled to continue through May 2027.
A $47 Million Supply…
The post LayerZero (ZRO) Price Tests Critical Support as $47 Million Token Unlock Begins Today appeared first on Coin Edition.
Read More