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By Shaurya Malwa|Edited by Parikshit Mishra
Updated Aug 11, 2025, 5:47 a.m. Published Aug 11, 2025, 5:43 a.m.
- Zora surged nearly 50% in the last 24 hours, pushing its market cap to $450 million.
- The rally was likely driven by a large purchase in anticipation of future volatility, despite no immediate news catalyst.
- Trading volume increased significantly as major exchanges introduced ZORA perpetual contracts, enhancing market liquidity.
Zora (ZORA) climbed nearly 50% in the past 24 hours to over 13 cents, extending a week-long rally to over 118% and pushing the market cap to $450 million.
No immediate catalyst or news event seemed to create the demand bump, but the rapid price movement suggests a wealthy player purchased an unusually high amount of tokens in anticipation of future volatility to the upside.
STORY CONTINUES BELOW
As such, on-chain metrics show a spike in coin creation activity on Sunday, with 47,000 issuances from 21,000 creators, marking the highest such figures since July 31.
Zora, an OP Stack Layer 2 built for creators and media minting, was added to the “Base App” discovery flow in mid-July, improving retail access and boosting creator-side activity.
Trading volume spiked to $284 million on Sunday from under $160 million a day prior. The rally came as major derivatives venues, including Binance, introduced ZORA perpetual contracts with leverage up to 50x — widening directional access and drawing speculative capital into the market.
These listings have likely compressed spreads and deepened liquidity, fueling both spot and leveraged positioning in the Base ecosystem token.
The ZORA token was launched in April via a retroactive airdrop to early users, leaving a relatively tight free float.
Read more: Bitcoin Bulls Take Another Shot at the Fibonacci Golden Ratio Above $122K as Inflation Data Looms
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
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