Zora cypto price breaks out 30% after Robinhood spot listing
Zora crypto price rose nearly 30% following the token’s listing on Robinhood.
- Zora crypto price was up 30% despite the broader market downturn
- The main catalyst for the momentum was Robinhood’s listing of the token
- The Ethereum-based project integrates with Coinbase’s app
Not all altcoins are feeling the bearish pressure. On Thursday, October 9, Zora crypto surged 30% following its listing on the trading app Robinhood. After experiencing a broader downtrend, the token reached its monthly high of $0.074 before stabilizing at $0.06915.
Robinhood’s decision to list Zora (ZORA) will expose the token to a large network of traders. This has the potential to lower volatility and boost its price in the long run. What’s more, this was the latest major listing for Zora since July, when the token listed on Binance Futures. It also follows a wave of activity on its social media and creator-focused chain.
What is Zora crypto?
Zora is an Ethereum-based protocol for media and the creator economy. It runs its own layer-2 network, the Zora Network, which uses the OP Stack. This is the same technology that powers Optimism and Base, also enabling it to offer cheap transactions while inheriting Ethereum’s security.
The protocol also integrated with Coinbase’s Base App, enabling creators to easily tokenize their posts and sell them to Base users. This integration drove significant growth in volumes for Zora. Notably, near the end of July, the amount of generated tokens reached 50,000, up from just 6,000 earlier in the month.
Interestingly, Zora’s activity also contributed significantly to growth in volume within the Base ecosystem. In August, Base overtook Solana in daily token launches, partially due to an explosion of tokenized posts on the Zora platform. By that time, Zora had contributed to the creation of 1.6 million tokens.
