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12h ago

ZORA Token Climbs to $0.139 as Whales and Perpetual Contracts Fuel Rally

Negative funding rates for ZORA perpetual futures point to growing bearish bets that could signal a pullback.

zora crypto
crypto market
Zora surges 50% as perps listings and base ecosystem flows drive breakout

Overview

  • ZORA extended a week-long rally of more than 118%, trading near $0.13 to $0.14 and lifting its market capitalization to about $450 million.
  • Whale wallets boosted their ZORA holdings by 16.4% since August 4, adding roughly $4.9 million to large-holder balances.
  • Exchanges including Binance rolled out ZORA perpetual futures with up to 50× leverage, driving a 47% surge in open interest over the past day.
  • On-chain metrics recorded 47,000 new ZORA coins minted by 21,000 creators on Sunday, marking the highest issuance since July 31.
  • The weighted funding rate for ZORA futures has turned negative and the RSI is above 80, flagging overbought conditions and elevated correction risk.