ZORA Token Surges 118% in a Week

The price of the Zora (ZORA) token, based on the L2 solution Base, has surged nearly 50% in a day. Over the week, the asset has appreciated by 118%, with its market capitalization reaching $450 million.

The rise coincided with the listing of perpetual contracts for ZORA on major exchanges, including Binance. Traders have access to leverage up to 50x. This expanded access to the asset and attracted speculative capital.

The listing also led to narrower spreads and increased liquidity, supporting growth in both spot and futures markets.

On August 10, trading volume jumped to $284 million, up from less than $160 million the previous day.

On-chain metrics confirm a surge in network activity. On August 10, 21,000 creators minted 47,000 NFTs, the highest level since July 31.

At the time of writing, the ZORA price stands at $0.12, according to CoinGecko.

In July, Zora surpassed previous leaders in the meme token segment, Pump.fun and LetsBonk, in terms of the number of tokens issued.