Analysis: Recent Suspected CEX Fund Manipulation in ZORA, with Almost No On-Chain Transactions Exceeding $500,000
According to ChainCatcher, on-chain analyst @ai_9684 xtpa posted on X, stating that ZORA has surged 931% in the past month, seemingly creating an independent altcoin rally. However, there have been no on-chain transactions exceeding $500,000 recently, suggesting that the price movement may be driven by funds within centralized exchanges (CEX).
On the exchange with the highest ZORA spot trading volume, the 24-hour trading volume reached $82.6 million, while the exchange with the highest ZORA contract trading volume saw a 24-hour volume of $1.354 billion—16.4 times that of spot trading. ZORA’s circulating supply ratio is 35%, and starting this October, tokens allocated to investors, the treasury, and the team will begin to be unlocked. The market maker is GSR Markets.
Additionally, market data shows that ZORA briefly broke through $0.10, setting a new all-time high.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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