Reviewed by Reviewed by Renuka Tahelyani Updated 12:00 EDT October 4, 2026 Share Share Share Back to Top After falling to $1.70, LayerZero [ZRO] bounced back, defended $2, and climbed to a six-month high of $2.14. At press time, ZRO traded around $2.03, up 15% on the daily charts
LayerZero rallied as its cross-chain activity drew renewed market attention
Bitblaze observed that LayerZero accounted for 91.6% of transfer volume across six protocols over 30 days, totalling $12.4 billion. It outperformed protocols including Chainlink, Wormhole, and Socket, which collectively shared the remaining 8.4% with other competitors
That dominance followed a single-day record of $4 billion in transfers. However, one wallet did much of the heavy lifting
Another X user, Dami, noted that the wallet moved 4.46 billion WPAY, worth $3.6 billion, from Polygon to Arc. This represented 44% of Wirex’s WPAY tokens and approximately 90% of the daily transfer record
The activity put LayerZero in the spotlight, although its concentration leaves a question: can broader usage sustain that momentum?
As LayerZero gained, exchange transfers from strategic partners and large holders followed
CoinGecko observed that addresses linked to LayerZero’s strategic partners transferred 8 million ZRO to Coinbase Prime
Such movements can stir sell-off concerns, although transfers alone do not confirm sales. They could also serve custody or liquidity needs
On top of this, another LayerZero-linked wallet deposited 1.7 million ZRO, worth $3.6 million, to Binance
The wallet had received those tokens barely a day earlier. That quick turnaround raised questions about a potential sale
Meanwhile, CoinGlass data showed that LayerZero’s Spot Netflow had remained positive for four consecutive days
On the 3rd of October, Spot Netflow reached a recent high of $9.1 million. It remained positive at approximately $1.45 million at press time
More tokens were entering exchanges than leaving, increasing the supply available for potential selling. Whether holders actually cash out could determine how much pressure the rally faces
LayerZero’s price structure remained bullish, with higher lows forming along rising support
The Relative Strength Index (RSI) reinforced that momentum, climbing to approximately 79, inside overbought territory
Buyers retained strong momentum, although an elevated RSI also leaves room for a pullback
If buying persists, LayerZero could hold $2 and target $2.20, with $2.50 as a medium-term objective. However, exchange inflows could complicate that path if deposits translate into selling. A loss of $2 could bring the $1.70 support back into focus
Gladys Makena is a Cryptocurrency and Financial Analyst at AMBCrypto with four years of market analysis experience. Her quantitative expertise is supported by a strong background in Finance, providing a solid foundation for a data-driven approach. At AMBCrypto, Gladys is committed to providing the community with timely and insightful news, reports and technical analysis
