ZORA (ZORA) rose 31.54% in the last 24 hours

Gate News Bot news, on August 8, according to CoinMarketCap data, as of the time of writing, ZORA (ZORA) is currently priced at $0.08, with a rise of 31.54% in the last 24 hours, peaking at $0.08 and dipping to $0.05. The current market capitalization is approximately $262 million, an increase of $62.9 million from yesterday.

Zora is a decentralized creator platform that provides NFT minting, showcasing, and trading services for artists and creators. Users can freely create, share, and trade digital artworks on the platform while gaining more creative autonomy and revenue distribution.

Important news about ZORA recently:

1️⃣ Base ecosystem expansion drives ZORA rise The Ethereum Layer 2 network Base supported by Coinbase has surpassed Solana in daily token issuance, a change primarily driven by the decentralized social platform Zora. Zora's "Creator Coin" model transforms content into tradable assets, combined with the Base App's transition to a SocialFi entry point, resulting in the ZORA token rising over 500% in the past month.

2️⃣ Zora platform activity hits a record high After the relaunch of the Base App, the activity on the Zora platform has significantly increased. The platform has minted over 1.6 million creator tokens, attracting nearly 3 million independent traders, with a total transaction volume of $470 million. This explosive rise reflects the strong interest in the Zora platform and the ZORA token.

3️⃣ ZORA token price fluctuates dramatically Despite the strong performance of the ZORA token over the past month, it has also experienced significant price fluctuations. On August 3, ZORA saw a single-day drop of 15.6%, quoted at $0.05402. However, over a longer time frame, ZORA has risen by 746.5% in the past 30 days, now quoted at $0.0698 (data as of August 1). This price volatility reflects the market's high attention and speculative sentiment towards ZORA.

The recent performance of the ZORA token is closely related to the expansion of the Base ecosystem. However, critics point out that the current users are mostly traders, indicating a tendency towards short-term speculation. Additionally, Zora's governance has sparked controversy on social media. Investors should closely monitor the development trends of the creator economy on the Base chain, as well as the long-term sustainability of the Zora platform.

This message is not intended as investment advice; investors should be aware of market volatility risks.