LayerZero’s native token ZRO surged 45% on July 23, hitting an intraday high of $2.44 before easing to around $2.39. The move followed LayerZero Labs’ announcement that it plans to launch its own layer-1 blockchain, Zero, later this fall.
According to the source report, ZRO was the top gainer among the 100 largest cryptocurrencies by market value that day. The rally came right after the company outlined Zero’s role inside the broader LayerZero ecosystem. LayerZero is known as an omnichain interoperability protocol, and ZRO serves as both the network’s native token and governance asset. Under the new design, the token is also expected to support interoperability across the network’s three zones and across more than 165 blockchains.
Zero’s throughput claims and token utility drew market attention
The article said Zero is scheduled to go live by fall this year and is designed to scale to 2 million transactions per second, with transaction costs reduced to nearly one-millionth of a dollar. The system is described as using zero-knowledge proofs to separate transaction execution from verification. That detail mattered to traders because it tied the product announcement directly to a possible expansion in ZRO’s utility if the network launches on schedule.
The report also named several institutions that have shown interest in the protocol’s capabilities, including Google Cloud, Intercontinental Exchange, the parent company of the New York Stock Exchange, and the Depository Trust & Clearing Corporation. On top of that, strategic investments from Citadel Securities, ARK Invest, and Tether Investments were cited as another force behind the jump in demand.
Chart watchers focus on the $2.4 neckline
On the technical side, the original analysis said ZRO was nearing a breakout above the neckline of a multi-month cup-and-handle pattern around $2.4. It also pointed to a bullish MACD crossover and a Supertrend indicator that had flipped below price, both read as supportive signals.
Using that framework, the report said ZRO could first revisit its May 2025 high of $3.34 and then move toward $3.6, a target derived by adding the depth of the cup to the neckline level. That implies upside of more than 45% from the cited price area. The source article also included a disclosure stating that the content is for educational purposes and does not constitute investment advice.