The cryptocurrency market has been bearish over the past 24 hours, with Bitcoin dropping below $67k, while Ether risks losing its $1,900 support level.
However, a few cryptocurrencies are in the green, with LayerZero’s ZRO one of the best performers. It is the third-best performer among the top 100 cryptocurrencies by market cap, behind PIPPIN and RIVER.
ZRO is up by more than 13% in the last 24 hours and briefly topped the $2.45 level before retracing to trading at $2.25.
ZRO rallies as LayerZero launches the Zero blockchain
The primary catalyst behind ZRO’s rally is the launch of the Zero blockchain. The LayerZero team announced on Tuesday that it has launched Zero, the first multi-core world computer.
According to its article on X, the team explained that Zero leverages the Zero-Knowledge (ZK) proofs to decouple execution from verification, allowing it to transition the network from redundant replication to a heterogeneous architecture.
LayerZero further explained that with Zero, validators download data and computation proofs instead of downloading and replaying every transaction.
This drastically reduces the bandwidth and compute requirements for each validator.
While commenting on the launch, LayerZero Labs CEO Bryan Pellegrino stated that,
“We believe we can actually bring the entire global economy onchain with this technology. Our mission is to build permissionless infrastructure for a better world.”
LayerZero revealed that both Citadel and Ark had made strategic investments, acquiring the protocol’s native ZRO token.
“Citadel Securities is collaborating with LayerZero to provide market structure expertise and evaluate how its technology could apply to trading, clearing, and settlement workflows that require high performance and reliability,” the team added.
LayerZero also announced that Tether has made a strategic investment in LayerZero Labs, the development company behind the interoperability protocol.
Tether made this investment thanks to LayerZero’s interoperability infrastructure, which has been leveraged by Everdawn Labs to develop and bring to market USDt0 and XAUt0, enabling large-scale cross-chain value movement under live market conditions.
Finally, LayerZero also announced a new partnership with Google Cloud.
The New York Stock Exchange’s parent company, Intercontinental Exchange (ICE), announced that it plans to examine how LayerZero’s Layer 1 chain Zero might support 24/7 trading.
ZRO could rally towards $2.8 as bulls remain in control
The ZRO/USD 4-hour chart is extremely bullish as LayerZero has outperformed most of the leading cryptocurrencies.
The momentum indicators are bullish, suggesting that investors are increasing their positions in this coin.
The MACD lines have converged above the neutral level, indicating a bullish bias. The RSI of 72 also means that ZRO is heading into the overbought territory if the rally continues.
If the rally continues, ZRO could hit the $2.8 level for the first time since May 2025. However, ZRO could face resistance at the $2.594 level in the near term.
On the flip side, if the pair undergoes a correction after this pump, ZRO could retest the support level at $1.8 over the next few hours or days.
The post LayerZero ZRO jumps 13% after Zero blockchain launch, $2.8 target ahead appeared first on Invezz
