ZORA Hits New ATH Amid 50% Daily Surge - What’s Behind The Breakout?

Social Network Zora has seen its native token, ZORA, record a massive rally following a spike in user activity and recent key integrations, leading some investors to suggest that momentum will continue.ZORA Hits New HighsOn Monday, the native token of the decentralized social network Zora jumped nearly 50% to hit a new all-time high (ATH) of $0.145. The platform allows users to make social media posts into tradable tokens by automatically minting them, with over 2.06 million tokens created since its launch, according to Dune data.In April, the team launched its native ZORA token, airdropping 10% of the supply to early users. The launch received a negative response due to concerns of an unfair allocation and potential centralization.As the price nosedived within hours, some users considered the airdrop was “the biggest disaster with Scroll and Zksync” and the “biggest SCAM in 2025 so far.” Despite the initial backlash, the token has seen a remarkable performance since July, surging 1,573% in the monthly timeframe to hit a market capitalization of $438.9 million.Notably, its ongoing rally has been driven by numerous factors, including crucial integrations and large holders increasing their balances.Since mid-July, users can mint their tokens using the Zora platform without leaving the Base App, making it more accessible and convenient for investors. Following the integration, Base overtook Solana in terms of tokens launched.Moreover, Binance announced the launch of the ZORA/USDT perpetual futures trading pair with up to 50x leverage on July 25, a week after the Base App integration. The news fueled the token’s rally to its previous high of $0.09 on July 27.New Leading Launchpad?As noted by Base’s lead developer, Jesse Pollak, Zora led in tokens created by launchpads on Base and Solana last month, accounting for more token launches than leading Solana platforms Pump.fun and LetsBonk.The massive momentum was momentarily halted by the start-of-August pullback, which saw ZORA drop 50% from the July highs.Nonetheless, the token and the platform have seen a significant recovery over the past week, with its price rallying 128% and token creation activity surging nearly 27% since August 4.On August 10, the platform saw the largest token issuance since July 31, according to Dune data, with 47,743 tokens from 21,052 unique creators, seemingly driving ZORA’s Monday price breakout.‘Onchain Culture’ Gets MomentumA week before ZORA’s launch, Coinbase’s Layer-2 (L2) Network, Base, faced backlash over rug-pull allegations after it promoted an unofficial memecoin that crashed by over 90%.As reported by NewsBTC, Base’s official X account posted an image with the text “Base is for everyone” and a link to Zora with the caption “Coined it,” sparking a speculative frenzy among the crypto community.Base explained that they had posted on Zora because they believe everyone should bring content on-chain and use the tools that make it possible.“Memes. Moments. Culture. If we want the future to be onchain, we have to be willing to experiment in public. (…) We’re going to keep bringing culture onchain,” the Base team argued.Following Zora’s recent rally, market watcher Ansem highlighted that “Zora is currently the newest thing with the most momentum,” suggesting that “innovation will happen on base/abstract/megaeth/lighter & others,” instead of on the Ethereum mainnet.Weiter zum vollständigen Artikel bei NewsBTC Weiter zum vollständigen Artikel bei NewsBTC