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LayerZero (ZRO) Price Surges 3% as Token Buyback Counters Unlock Concerns
LayerZero (ZRO) Price Surges 3% as Token Buyback Counters Unlock Concerns
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BTCCSquare news:
LayerZero's ZRO token rebounded to $1.90, marking a 3.04% gain after the Foundation announced a strategic 50 million token buyback. The move, representing 5% of total supply, effectively neutralized selling pressure from a recent 25.71 million token unlock.
Market dynamics shifted abruptly when the buyback announcement followed just two days after the unlock event. The Foundation's intervention demonstrates proactive supply management, with the RSI at 45.54 suggesting room for further upside.
This counterbalance strategy highlights how protocol-level actions can stabilize prices during liquidity events. The buyback's scale—equivalent to nearly double the unlocked amount—sent a clear signal to markets about long-term value preservation.
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