Zora Soars 50% as Perps Listings and Base Integration Fuel Rally

Zora (ZORA) climbed nearly 50% in the past 24 hours, surging to over 13 cents and extending its weekly gain to over 118% [1]. This sharp price movement pushed the token’s market capitalization to approximately $450 million [1]. Despite the dramatic increase, no immediate news event or official announcement served as a catalyst for the rally [1]. Analysts suggest the price action was likely driven by a large single-purchase from a wealthy investor or institutional actor, who may have anticipated future volatility to the upside [1].

The surge coincided with the introduction of ZORA perpetual contracts on major derivatives exchanges, including Binance, offering leverage of up to 50x [1]. These listings are expected to have compressed bid-ask spreads and deepened liquidity, making it easier for both spot and leveraged traders to participate in the market [1]. On Sunday, trading volume for ZORA spiked to $284 million from under $160 million a day prior, indicating heightened speculative activity [1].

Zora, an OP Stack Layer 2 platform designed for creators and media minting, was integrated into the “Base App” discovery flow in mid-July [1]. This change improved retail access and contributed to increased creator-side activity. On-chain data also revealed a spike in content creation activity, with 47,000 new issuances from 21,000 unique creators — the highest levels since July 31 [1].

The ZORA token was initially distributed through a retroactive airdrop to early users in April, resulting in a relatively tight free float [1]. This limited supply structure may have amplified the impact of large trades and positioned the token for sharper price swings in response to on-chain and market dynamics [1].

Source: [1] Zora Surges 50% as Perps Listings and Base Ecosystem Flows Drive Breakout (https://www.coindesk.com/markets/2025/08/11/zora-surges-50-as-perps-listings-and-base-ecosystem-flows-drive-breakout)