LayerZero announced that it would be launching a layer 1 blockchain later this year in partnership with a few entities. The launch of the ‘Zero’ blockchain evoked excitement in the market, and the ZRO token appreciated by more than 20% during the past 24 hours.
LayerZero, which is an omnichain interoperability protocol that is designed for message passing across chains, announced the launch of ‘Zero,’ a layer-1 blockchain, which is capable of scaling to 2 million transactions per second.
Zero moves industry roadmap
“Zero’s architecture moves the industry’s roadmap forward by at least a decade,” said Bryan Pellegrino, CEO of LayerZero Labs. “We believe we can actually bring the entire global economy on-chain with this technology. Our mission is to build permissionless infrastructure for a better world—this is the beginning of that world.”
Zero, which is expected to be launched in autumn of 2026, will be headed by prominent figures in the market. In particular, LayerZero’s advisory board consists of Cathie Wood (founder, CEO, & CIO of ARK Invest), Michael Blaugrund (VP of Strategic Initiatives, Intercontinental Exchange), and Caroline Butler (former head of digital assets at BNY Mellon).
While the popular names set the direction of the project, Citadel, DTCC, ICE, Ark Invest, and Google Cloud mining will collaborate in different areas to support the launch of zero.
With the announcement, ZRO prices – which crashed to $1.2 from as high as $2.4 – have once again started to recover. Back in early October, ZRO prices were soaring above $2, but with President Trump’s volatile tariffs, about 20 billion were liquidated in a single day. But the Zero news has sparked some enthusiasm as the ZRO price is testing the $2.4 resistance level.
ZRO is overbought and retracement is coming
On the technical side, ZRO has broken out from a falling wedge. During this rally, ZRO crossed two major levels, the 50-day moving average and the 200-day moving average. However, this price surge will come to an end, as there was no real driving factor except for the hype in the launch of the blockchain.
The RSI indicator is also going into the overbought zone, and the market could correct the prices. When the market corrects, there can be a retracement, and ZRO might fall back to $1.8.
