Zeta Markets' Airdrop Outperforms Expectations, Surging to $30M in Value

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jun 28 2024

Should l Buy ZEX?

Zeta Markets Airdrop: Zeta Markets, a Solana-based DEX, launched an airdrop of 100 million ZEX tokens, 10% of the total supply, to reward long-term users.
Token Value Surge: ZEX tokens debuted at $0.13, tripled in value to over $0.30, with the airdrop's total value reaching around $30.78 million before stabilizing at $0.25.
Airdrop Phases: The airdrop is split into two phases; the first phase distributed 80% of tokens based on users' "Z scores," while the remaining 20% will go to ZEX holders who stake their tokens.
Perpetual Contracts: Zeta Markets specializes in on-chain perpetuals trading, allowing traders to speculate on crypto asset prices without expiration dates.
Market Performance: Zeta Markets saw a strong performance with $3.24 billion in trading volume in May, leading up to the airdrop announcement.

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Technical Analysis for ZEX

Technical Sentiment Analysis for Zeta (ZEX). As of , Zeta (ZEX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZEX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ZEX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Zeta (ZEX) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	-0.0188	0.00325	0.0211	0.0431	0.061	0.083	0.101
Fibonacci	0.00325	0.0185	0.0279	0.0431	0.0584	0.0678	0.083

About ZEX

Zeta Markets is building the fastest, simplest and most secure perps DEX on the market. By leveraging the cutting-edge scalability of Solana, Zeta offers comparable features and performance to a CEX, whilst retaining the self-custodial nature and transparency of a DEX. ZEX is the governance token of the Zeta platform and offers governance rights as well as a share in ongoing trading and staking incentives to align the long term interests of the protocol with the community.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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