ZetaChain, a Layer-1 interoperability platform, had a spectacular entry into the cryptocurrency market, with its native token ZETA surging by more than 150% in just its first day. Nevertheless, there has been some stability in the ZETA price since it reached a high of $1.81 on Friday.
ZetaChain Records $1.81 Million in Liquidations
$1.78 million was liquidated in total during the course of a 24-hour period, according to the most recent liquidation statistics obtained from CoinGlass on ZetaChain. Broken down, the total amount of liquidation was $1.09 million, with long holdings accounting for $1.09 million and short positions contributing $691.11 thousand.
Furthermore, there was a 39.99% decrease in trade volume, or $799.26 million, throughout the given time frame. In the meanwhile, open interest increased significantly, by 21.65% to $40.13 million.
With its inherent chain-agnostic capabilities, ZetaChain, an inventive Layer 1 (L1) blockchain, heralds in a breakthrough age of blockchain interoperability. ZetaChain supports a wide range of chains, such as EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and others. This allows for seamless data and native value transfers between different blockchains, which gives developers more control.
Apart from its interoperability capabilities, ZetaChain will allow smart contracts natively. This feature increases flexibility and operational efficiency by enabling developers to build omnichain decentralised apps (dApps) that can effectively manage funds across many chains using a single contract.
More Exchanges Announce ZETA Listing
The native token of ZetaChain, ZETA, was listed on several of the early cryptocurrency exchanges, including Binance and Coinbase. A USDT-margined ZETA contract was also released by cryptocurrency exchange OKX on Friday, February 2 at 3:30 AM (UTC) on its perpetual futures market, giving customers the ability to trade ZETA/USDT with leverage of up to 50x.
Additionally, on February 2, the exchange turned on Simple Earn and margin trading for ZETA tokens. This comes after ZETA/USDT was just listed at 3:00 AM (UTC) on February 1 on OKX’s spot market.
https://x.com/alarganprojects/status/1753587817299509526?s=20
It was formally declared by ZetaChain that the ZETA airdrop is still ongoing and that consumers must whitelist their wallets in order to get ZETA tokens.
Some market observers think that ZETA has the ability to hit $5 and that the price increase might restart following a brief pause.
