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Interesting activity has been detected within the LayerZero community. Looking at on-chain data, it seems that the strategic partner wallet of LayerZero has unlocked and distributed a large amount of ZRO. They sent about 1.21 million ZRO (worth approximately $1.97 million) divided among 52 addresses, with the largest transfer of 855,000 ZRO to a major exchange.
The ZRO token of LayerZero has been quite volatile given the current market conditions. After the rsETH vulnerability incident a few days ago, its price dropped significantly, and it is now around $1.52. Anyway, this large distribution could add further selling pressure to the market. It will be important to keep monitoring LayerZero’s token movement patterns.