The Altcoin Everyone’s Talking About—But Why?
The Zora (ZORA) token has reached a new all-time high amid a bullish rally that has caused its value to appreciate by more than 1460% over the past month. Furthermore, user activity on the Zora platform is also surging.
This has reignited interest in the altcoin, with discussions intensifying across crypto Twitter (now X). ZORA has also stolen the spotlight, emerging as the top trending coin on CoinGecko.
ZORA Becomes CoinGecko’s Top Trending Coin Amid Bullish Rally
BeInCrypto Markets data showed that the altcoin reached $0.139 earlier today, marking a new record high. At the time of writing, ZORA’s price adjusted to $01.36.
This represented an uptick of 50.6% over the past day. The double-digit pump has made the coin one of the top daily gainers on CoinGecko.
Furthermore, the daily trading volume was recorded at $312 million, an 80.2% increase. Notably, the majority of the trading activity comes from Coinbase, which dominates 27.23% of the total volume.
The rise isn’t limited to the price. Zora, a blockchain platform enabling the creation and trading of tokenized content and creator coins, has also seen a dramatic uptick in user engagement.
According to data from Dune Analytics, the number of creators on the platform has increased more than tenfold compared to last month. The number of unique coin traders has reached 2.92 million, reflecting growing engagement and participation.
In addition, both new and returning wallets have seen a notable rise. The creation of content coins remains consistently strong, with daily creation levels staying above 30,000 throughout the past month. These trends suggest a thriving and expanding ecosystem, driven by heightened interest and participation.
This revival of interest isn’t new. BeInCrypto reported previously that users created over 100,000 coins in late July, even surpassing Pump.fun.
This surge coincides with increased attention surrounding ZORA. The altcoin has been dominating discussions on crypto Twitter.
“Zora has been handed to ct on a silver platter and it’s still deeply underallocated — download the app, have a little fun with $20 and you’ll understand I promise,” an analyst posted.
Meanwhile, another analyst, Alexander, has highlighted several factors contributing to ZORA’s appeal, including its intuitive model, fair token rewards for creators and users, and disruptive potential.
“Zora is a platform where tokens and speculation are means to ends, not the ends themselves. They can conceivably be increasingly abstracted away from most users, just as they are in other types of social / attention markets. The tokens here are actually useful within the context of the platform itself, people actually have reasons to interact with them other than speculation,” he wrote.
It’s not just social media. Retail interest in the asset is also rising. Google Trends data revealed that the search interest for “Zora” has picked up, approaching a score of 100, indicating significant curiosity from investors.
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