LayerZero (ZRO) is the native token of the cross-chain messaging protocol. After digesting 257,100 tokens unlocked last week, expectations for the ecosystem event scheduled for February 10 have grown, leading to a 40% surge. This indicates that market participants are betting on the possibility of major announcements.

What happened: Token rally defying unlock pressure

The token unlock held on January 20 accounted for about 6.36% of the total circulating supply, but it did not trigger the large-scale selling pressure that often appears after such events.

Buying pressure immediately flowed in at each correction phase. Additionally, despite approximately $98 million worth of 57.3 million ZRO being transferred to BitGo custody, there was no noticeable price shock, and analysts interpreted this as a signal of institutional accumulation.

In addition, Starknet announced its integration with the LayerZero architecture, enabling cross-chain transfers connecting to over 150 ecosystems through the Stargate interface.

The project stated that 'LayerZero is now operational on the Starknet mainnet' and explained that 'this is a significant milestone for Starknet interoperability, connecting the network to over 150 ecosystems and opening up large-scale omni-chain liquidity.'

Market analyst CRYPTOMS noted that recent trading volumes have increased to two to three times the average. He pointed out that this movement is 'not just simple random price fluctuations, as the broader market is unfolding quietly.'

Further reading: What Drove Seeker's 200% Spike While Airdrop Recipients Rushed To Sell?

Why is it important: Strong conviction shown by accumulation signals.

According to on-chain data, the number of active wallets increased by 20-30% compared to the previous week, and the volume of cross-chain message transmissions also increased.

The open interest in futures increased by more than 30% along with the price, but the funding rate remained neutral, suggesting relatively restrained leverage use rather than excessive leverage. Approximately $236,000 worth of short liquidations occurred, aiding ZRO in breaking through the resistance around $2.04.

Analyst CryptoGuru analyzed that 'if ZRO can turn the $2.56 resistance into support, it could reach $3.35 this week,' citing bullish MACD signals and a peak RSI of 92.42 based on a 7-day basis.

The number of addresses holding at least 10,000 tokens has steadily increased over the past month.

Analyst BlockViz evaluated that 'the airdrop controversy ironically helped.' He added that 'the remaining holder base mostly understands the product and are investors looking to make long-term interoperability bets rather than dumping immediately.'

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