ZBCN price jumps as staked Zebec Network tokens hit a milestone
Zebec Network token price jumped to its highest point since June, continuing a trajectory that began on July 6 when it bottomed at $0.00230.
- Zebec Network token continued pumping this week.
- The number of staked ZBCN tokens jumped to over 4 billion.
- Zebec has soared as its ecosystem growth continued.
Zebec Network (ZBCN) jumped to an intraday high of $0.0059, which was up by 630% from its lowest level this year. Its market capitalization has jumped to nearly $500 million.
Staked Zebec Network tokens are soaring
ZBCN price has been on a strong rally in recent weeks, supported by rising investor demand. CoinMarketCap data shows daily transaction volume frequently exceeds $50 million.
Additional data from CoinGlass shows that futures open interest has also trended higher, reaching $14.6 million on Wednesday, August 6. Rising open interest and spot volume alongside price appreciation typically signals growing investor interest.
The trend is mirrored in staking. According to a statement from the developers, staking volume has surpassed the 4 billion token milestone. At current prices, these tokens are valued at over $22 million, with investors earning an average return of 15%.
Demand for Zebec Network tokens has risen as investors react to strong fundamentals. The latest monthly report shows that 230 enterprise clients now use its payroll services, with approximately $43 million in monthly transaction volume, a figure that continues to grow.
The report also showed that the number of card issued rose by 7% in May, up by 7% from the previous month. Its monthly volume rose by 7% to $52 million.
ZBCN price technical analysis
The daily timeframe chart shows Zebec Network has been in strong upward momentum after bottoming at $0.00229.
Zebec has broken above the Woodie pivot point at $0.004590. It also jumped above the Supertrend indicator and is approaching the 23.60% Fibonacci retracement level.
The ZBCN price has moved above the 50-day and 100-day moving averages, while the Average Directional Index has moved to 40, a sign that the momentum is strengthening.
Therefore, Zebec Network price may continue to rise as bulls target the all-time high of $0.007185, about 30% above current levels. A drop below the Woodie pivot point would invalidate this bullish outlook.
