Focus $ZRO : Take profit or hope for a "boost" from Tether?
The recent 30% price increase of LayerZero (ZRO) amidst a bleak market context has attracted significant attention. The main driver comes not only from Tether's strategic investment news but also from the announcement of a new L1 blockchain called "Zero".
Multifaceted perspective:
- Bullish: Tether, Ark Invest, and Citadel's involvement indicates large institutions' confidence in cross-chain infrastructure. The emergence of USDT0 and blockchain Zero could open up long-term real cash flows, making this increase just the beginning of a new growth cycle based on utility.
- Bearish: Technically, the RSI is moving into overbought territory, warning of short-term profit-taking pressure. Additionally, the periodic token unlock schedule remains a factor to consider for supply.
Conclusion:
ZRO's position is being strongly reinforced by major backers. However, short-term investors should be cautious of technical corrections. With a long-term outlook, the combination of Stablecoin (Tether) and Interoperability (LayerZero) is a story worth following.
DYOR. This is not financial advice.
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