DataFi - Onchain Research
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Bearish
2 hrs ago, Amber Group (0x4e43) deposited 500K $ZRO
~ $1.38M to #Binance
6 days ago, Amber Group received 5.69M ZRO from the project's contract. After that:
1. Transferred 500K ZRO to wallet 0x50c3 and it was desperately deposited onto CEXes like Bifmex, Binance, Kucoin, and Bitget.
2. Transferred 55K ZRO to wallet 0xdd96 to be deposited onto Coinbase.
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The trend of depositing ZRO onto CEXes has become more evident in recent days, with the outflow from wallets that have been #hodling ZRO increasing significantly.
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As for the project itself, LayerZero is quite good, but is this the right time to get in?
According to Cody (@0xhopydoc), if the FDV (Fully Diluted Valuation) is less than $3B, then this is a reasonable price level to buy in.
Additionally, he compared LayerZero in the interoperability space with two competitors,
$W and $AXL , to highlight the potential of this project at the current valuation, which he believes is very reasonable to buy into.
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And what are your thoughts on ZRO?
#DataFi
#iCrypto
~ $1.38M to #Binance
6 days ago, Amber Group received 5.69M ZRO from the project's contract. After that:
1. Transferred 500K ZRO to wallet 0x50c3 and it was desperately deposited onto CEXes like Bifmex, Binance, Kucoin, and Bitget.
2. Transferred 55K ZRO to wallet 0xdd96 to be deposited onto Coinbase.
--------------
The trend of depositing ZRO onto CEXes has become more evident in recent days, with the outflow from wallets that have been #hodling ZRO increasing significantly.
------
As for the project itself, LayerZero is quite good, but is this the right time to get in?
According to Cody (@0xhopydoc), if the FDV (Fully Diluted Valuation) is less than $3B, then this is a reasonable price level to buy in.
Additionally, he compared LayerZero in the interoperability space with two competitors,
$W and $AXL , to highlight the potential of this project at the current valuation, which he believes is very reasonable to buy into.
-----------
And what are your thoughts on ZRO?
#DataFi
#iCrypto
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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