Latest Binance listing results in collapse
It was yesterday’s big event: Binance listed LayerZero’s native token (ZRO) with great fanfare. However, we called on you to be wary and, once again, we were right!
As a reminder, the launch of the ZRO was carried out on the sidelines of an airdrop which had been in preparation for almost a year. Those who participated, however, had an unpleasant surprise when claiming their tokens. Indeed, to recover your dues… you had to pay!
Without having specified it in advance, the LayerZero team forced its community to give 0.10 USDT per ZRO claimed. A donation which would a priori be used to remunerate the developers of the Protocol Guild collective which hosts the main developers of Ethereum.
Airdrop participants made their dissatisfaction known. After jumping 15.15% in just 20 minutes, ZRO fell 22% to stagnate at $3. Ultimately, only 8% of the billion assets planned for distribution were claimed but the few individuals who benefited did not wait to liquidate as we had planned.
What are the chances of recovery?
Was this impromptu donation mechanism a bad idea? The answer is no according to the LayerZero team and certain members of the crypto sphere, for whom the goal is to avoid too many liquidations and keep the community only interested.
To go further: Crypto Airdrop 2024: dates to remember
The creators of ZRO having encouraged disgruntled participants to abandon their tokens, chances are the fall will stop there. Miles Deutscher also calls for investing before the altcoin season which will soon begin.
The asset in question has therefore not yet shown its full potential and promises significant increases. Before him, other Binance listings like Ethena and Notcoin had fallen… before performing unexpected miracles.
The moral of the story: for LayerZero, when you receive for free you must also give for free.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, we encourage readers to verify the facts on their own and consult a professional before making any decision based on this content.
