Zetachain’s (ZETA) price is still rising strongly; on Tuesday morning, it hit an all-time high of $2.43. The token has increased by almost 270% from its lowest point this month to its climax. With a recent surge in market capitalization to over $548 million, it now ranks as the 129th largest cryptocurrency globally.
Crypto bull run continues
Zetachain is a rapidly expanding blockchain initiative in the industry that enables developers to create high-quality decentralised apps, or dApps. Its network’s primary advantage is that it makes it easier to create cross-blockchain applications (dApps) like Ethereum and Bitcoin.
Its website has data indicating that it has completed more than 14 million cross-chain transactions. The majority of these occurred on its testnet, which had more than three million users. Thirteen DeFi developers have expressed interest in it, according to a different statistics report from DeFi Llama, and the total value locked (TVL) has increased to more than $2.5 million.
Since the devs released the mainnet beta two weeks ago, the price of ZETA has increased significantly. Since then, they have drawn further relationships, such as those with one of the largest industry oracles, Pyth Network, and Bitkub Academy.
The fact that so many individuals are still staking the token is another significant accomplishment. The entire liquid staking volume on the platform has increased to $186k, according to data from Accumulated Finance, and this trend may continue over the next weeks.
Most notably, the current cryptocurrency bull run season is to blame for ZETA’s price increase. The price of bitcoin has already broken over a significant barrier level around $50,000, raising the prospect that it may reach its all-time high of $67,000 in the upcoming months.
A boom in the Bitcoin ecosystem, as usual, increases demand for other cryptocurrencies. This explains the recovery of well-known tokens like ADA, SOL, and ETH.
In essence, Zetachain is up against competition because to a recent surge in the number of chains. However, Sui’s most recent performance indicates that more is possible. Sui has advanced to rank among the top 10 competitors in the DeFi market.
Zetachain price forecast
The ZETA token price has been rising over the last several days, as can be seen by glancing at the two-hour chart. The token most recently surged past the crucial barrier level of $2.10, which marked its peak swing on February 2. Additionally, it has above the 50-period moving average. In addition, both the Percentage Price Oscillator (PPO) and the Average Directional Index (ADX) have turned upward.
As a result, the ZETA token’s outlook is positive, and $3 is the next level to keep an eye on. This trade will have a $2 stop-loss.
Zetachain (ZETA) price reaches ATH as staking volume increases was first published on Invezz.
