ZetaChain, a revolutionary Layer-1 blockchain, made waves on February 1st with a remarkable surge following the beta launch of its mainnet. The native asset, ZETA, skyrocketed by an impressive 150%, reaching $1.9 within hours of the announcement.
What is ZetaChain (ZETA)?
ZetaChain, an EVM-compatible layer-1 blockchain, stands out with built-in chain-agnostic interoperability. Supporting various chains like EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and more, its unique messaging capabilities enable seamless data and native value transmission across different chains without the need for asset wrapping.
ZetaChain is set to introduce native smart contract support, allowing developers to craft omnichain decentralized applications (dApps) for managing funds across different chains through a single contract.
Understanding the intricacies
At the heart of ZetaChain’s functionality is its native utility token, playing a crucial role in ensuring the platform’s seamless operation. This versatile token facilitates smooth value movement between chains and acts as a guardian of blockchain security, covering gas fees, overseeing transactions, and managing data storage.
ZetaChain’s Financial Journey
In August 2023, ZetaChain secured a substantial investment of $27 million during a funding round, with key participants including Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, and Krust.
The mainnet launch introduces support for BNB Chain, Bitcoin (BTC), and Ethereum (ETH) networks, with BNB Chain taking the forefront for user interactions, cross-chain trading, and liquidity transfers.
Market Dynamics
As of now, ZetaChain’s price stands at $1.67, marking a notable 120% surge in the past 24 hours. The trading volume is substantial at $267,675,385. Note that the circulating supply is currently unavailable, and the maximum supply is capped at 2.1 Billion ZETA coins.
What’s next for ZetaChain? We’ll have to wait to find out!
