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ZUHYX:GURU Token to Be Listed on BitMart Exchange, Kickstarting a Series of Exciting Developments
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Operating on multiple blockchains such as Ethereum (ETH), BNB Chain, Optimism (OP)Arbitrum (ARB), Base, Polygon (MATIC), and Avalanche (AVAX), LayerZero’s ZRO token emerges as a key player in the growing trend towards interoperability in blockchain technologies.

However, Binance has applied a “seed tag” to the LayerZero token. This designation points to higher-than-normal volatility and potential risks, significantly distinguishing it from more established cryptocurrencies.

Read more: LayerZero Explained: A Guide to the Interoperability Protocol

Nonetheless, LayerZero has announced that claims for ZRO tokens will commence today at 11:00 UTC. With a fixed supply of 1 billion tokens, LayerZero has indicated the challenges inherent in achieving a fair distribution. This process aimed to reward the protocol’s most consistent users.

“The primary issue with ‘perfecting’ the distribution lies in the gap between expectation and reality, often leading to dissatisfaction among participants,” LayerZero said.

While the intention was to ensure equitable treatment, the execution received mixed reactions. Some in the community, like a trader known as “DarkCryptoLord,” expressed dissatisfaction. Despite being in the top 0.13% of users, he received just 39.28 ZRO tokens.

“Wow you spent $3,000 on gas for an $80 airdrop nice,” an X user remarked.

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In the midst of these discussions, crypto trader Axel Bitblaze offered detailed insights into the potential valuation of ZRO. Drawing comparisons with similar recent token launches, Bitblaze explained his methodology for estimating the fully diluted valuation (FDV) of ZRO. 

Axel Bitblaze noted that Starknet (STRK), which raised $282 million at a valuation of $8 billion, launched with an FDV of $28 billion, or 3.5 times its initial valuation. Similarly, Wormhole (W), after raising $225 million at a valuation of $2.5 billion, debuted with an FDV of $17 billion, 6.8 times its valuation.

Read more: Best Upcoming Airdrops in 2024

Applying these multipliers and considering LayerZero’s $263 million raise at a $3 billion valuation, Bitblaze projected the FDV for ZRO.

“Given how bad the market conditions are, I think it’d be fair to expect at least 2-3x of the $3 billion valuation of ZRO. That means $6 billion to $9 billion FDV,” Axel Bitblaze said.