$ZRO Answer: 10/2 — The Beijing afternoon entry’s scenario one is: “Stand above 1.885; the buyback narrative is still being priced in.” That’s what we’re following now.
As of Beijing 10/4 04:30: ZRO spiked to 2.146 during trading on 10/3, and is now around 2.03—up about 14% in 24 hours; since 9/21’s 1.18, it’s already up about 72%.
But on the same day, a signal worth watching emerged: on-chain data (EmberCN) shows that a LayerZero strategic partner address transferred 8 million ZRO (about $15 million) into Coinbase Prime.
This is the first large outflow from the 40.57 million ZRO it received a year ago; the purpose is still unclear.
Also, with the core contributor unlock on 10/20, the pressure on the supply side is increasing.
New levels: 2.146 is the new high; for a pullback, first watch 1.885 (former high), and below that is 1.725 (the 10/2 low).
Scenario one: Hold 1.885, and the buyback narrative should overpower selling pressure. Scenario two: Drop back below 1.885, indicating that the exchange-bound tokens are starting to be sold.
As of Beijing 10/4 04:30: ZRO spiked to 2.146 during trading on 10/3, and is now around 2.03—up about 14% in 24 hours; since 9/21’s 1.18, it’s already up about 72%.
But on the same day, a signal worth watching emerged: on-chain data (EmberCN) shows that a LayerZero strategic partner address transferred 8 million ZRO (about $15 million) into Coinbase Prime.
This is the first large outflow from the 40.57 million ZRO it received a year ago; the purpose is still unclear.
Also, with the core contributor unlock on 10/20, the pressure on the supply side is increasing.
New levels: 2.146 is the new high; for a pullback, first watch 1.885 (former high), and below that is 1.725 (the 10/2 low).
Scenario one: Hold 1.885, and the buyback narrative should overpower selling pressure. Scenario two: Drop back below 1.885, indicating that the exchange-bound tokens are starting to be sold.