ZetaChain Price Skyrockets 150%: Speculating on the Upper Limits of ZETA Price Ascension

ZetaChain, an innovative Layer-1 blockchain with inherent interoperability, experienced a remarkable surge on February 1st after the beta launch of its mainnet. The native asset of ZetaChain, known as ZETA, skyrocketed by an impressive 150%, reaching $1.9 within a few hours of the announcement.

ZetaChain is an EVM-compatible layer-1 blockchain that supports various chains like EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and more. What sets the platform apart is its messaging capabilities, which enable seamless transmission of data and native value across different chains without the need for asset wrapping.

Moreover, ZetaChain is set to introduce native smart contract support, empowering developers to create omnichain decentralized applications (dApps) that manage funds across different chains through a single contract.

At the core of ZetaChain’s functionality is its native utility token, which plays a crucial role in ensuring the platform’s smooth operation. It facilitates the smooth movement of value between chains, acts as a guardian of blockchain security, covers essential gas fees, oversees transactions, and manages the intricate web of data storage. Users who utilize ZETA gain a distinct advantage in navigating asset transfers across different chains effortlessly.

The surge in the price of ZETA can be attributed to the substantial investment of $27 million the project secured in August 2023 during a funding round. Key participants in the funding round included Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, and Krust.

The mainnet launch of ZetaChain now supports the BNB Chain, Bitcoin (BTC), and Ethereum (ETH) networks. This means BNB Chain users can interact with contracts on ZetaChain, trade across chains that ZetaChain connects to, and transfer liquidity to the BNB Chain.

As of now, ZetaChain’s current price stands at $1.67, marking a significant 120% surge in the past 24 hours. The trading volume is substantial, reaching $267,675,385. It’s important to note that the circulating supply is currently unavailable, and the maximum supply is capped at 2.1 Billion ZETA coins.