TechFlow, July 27 — On-chain analyst Ai Yi (@ai_9684xtpa) analyzed and stated that the ZORA token has surged by 931% over the past month. However, there are no single on-chain transactions exceeding $500,000 recently, suggesting that funds on CEXs might be manipulating the market.
Coinbase, the top exchange for ZORA spot trading, has a 24-hour trading volume of $82.6 million, while Binance, leading in futures trading, reports a 24-hour volume of $1.354 billion—16.4 times higher than spot. Clearly, derivatives are the main battleground in this surge;
Binance's ZORA futures trading competition, launched starting July 26, likely contributed significantly to the explosive growth in futures data and market sentiment;
ZORA's circulating supply ratio is 35%, with tokens allocated to investors, treasury, and team scheduled to begin releasing from October this year;
The market maker is GSR Markets.
