YEREVAN (CoinChapter.com) — Zeta Chain coin ZETA rallied 65% to $0.9 on Feb. 1. The token’s multiple listings might have triggered the uptrend.
ZETA Listings Propelled The Coin?
Bitkub Exchange announced it intended to list the ZetaChain (ZETA) token from Feb 1, 2024. The specific schedule for deposit, withdrawal, and trading activities will be announced further. However, Bitkub was not the only one to jump on the opportunity.
BitMEX introduced the ZETAUSDT Perpetual Swap featuring ZETA. This listing allows trading with up to 10x leverage, marking it as the second listing featuring ZETA on BitMEX.
ZetaChain (ZETA) was added to Coinbase Pro, specifically supporting the ERC-20 token on the Ethereum network. Trading also began on Feb 1, 2024, contingent upon meeting liquidity conditions. The Crypto.com App listed ZetaChain (ZETA), adding it to over 250 supported cryptocurrencies and stablecoins. This listing expands the accessibility and potential user base for ZETA.
As of 12:00 GMT, OKX accounted for over half of ZETA trading, Bybit trading took second place with 15%, while Coinbase traded ZETA against the US dollar and accounted for 8% of the trading.
Here are more details about the token itself.
What is Zeta Chain?
Zeta Chain is a public, decentralized blockchain and smart contract platform facilitating interoperability across different blockchains.
ZETA has a total initial supply of 2,100,000,000 tokens. The protocol plans to initiate a target of approximately 2.5% yearly inflation based on the current circulating supply after about four years, providing a mechanism to sustain the network into the future.
The token can operate on various blockchain networks, including the Ethereum mainnet, ZetaChain, and other interconnected smart contract chains. This omnichain capability allows users to leverage ZETA across different platforms, facilitating seamless cross-chain interactions.
ZETA serves various purposes within the Zeta Chain Ecosystem, including securing the Proof of Stake network, paying for transaction fees in the zEVM (Zeta Ethereum Virtual Machine), covering cross-chain transaction gas fees, and participating in governance processes. As an omnichain token, ZETA facilitates transfers across connected chains and to ZetaChain itself.