LayerZero bought back another $347,000 in ZRO, taking reported cumulative purchases to $5.4 million as the token jumps 10.7% and ATLAS approaches launch.
ZRO$2.16+10.00%LayerZero has bought back another 162,000 ZRO tokens worth about $347,000, adding fresh buying pressure as the token continues its sharp recovery.
The latest purchase brings LayerZero's reported cumulative buybacks to 2.538 million ZRO, worth roughly $5.4 million at current prices. The transaction was reported through on-chain monitoring by TradingBeats and Lookonchain.
ZRO rose about 11.9% over 24 hours, trading around $2.13 at the latest reading. The token has also gained more than 40% over the past week, putting it back above the $2 level for the first time in months.
The rally comes as LayerZero combines recurring token buybacks with rising derivatives activity and preparations for its new ATLAS trading infrastructure.
LayerZero's latest purchase adds to a series of ZRO buybacks funded by revenue from Stargate.
The project's official buyback tracker currently shows 2.375 million ZRO purchased, with a cost basis of about $3.33 million through August. The latest 162,000-token purchase reported by on-chain monitors would take the cumulative total to about 2.538 million ZRO.
LayerZero says Stargate revenue is used to purchase ZRO on the open market. Stargate generates revenue from cross-chain swaps and transfers.
This creates a direct link between activity across the LayerZero ecosystem and demand for its native token.
The latest buyback therefore gives traders another reason to watch ZRO as the token moves through a strong recovery.
ZRO has gained momentum quickly.
The token was trading around $2.14, up about 10.7% over 24 hours and more than 37% over seven days. Its 30-day gain had reached roughly 99%, according to CoinGecko data.
The move has taken ZRO back above $2 after much of the year was spent at lower levels.
The next major area traders are watching is around 2.18 - 2.20, where the token recently reached a local high.
A sustained break above that zone could strengthen the current recovery. If ZRO fails to hold the breakout, traders could instead watch the $1.84 area as an initial support level based on the weekly Bollinger Band.
The spot rally is also happening alongside increased activity in ZRO derivatives.
CoinGlass data showed showed ZRO futures open interest near $279 million, while 24-hour futures volume was around $308 million.
Open interest measures the value of outstanding futures positions. When it rises alongside price, it can indicate that traders are adding new leveraged positions.
That can help extend a rally, but it can also increase volatility if the market reverses.
For ZRO, the rise in derivatives activity suggests the current move is attracting more than just spot buyers.
The biggest longer-term catalyst around ZRO is LayerZero's upcoming ATLAS trading infrastructure.
LayerZero introduced ATLAS in August as a backend system designed to handle matching, clearing, settlement and risk management for trading venues.
The system is built on Zero, LayerZero's planned blockchain for financial markets. LayerZero says ATLAS is designed to support crypto assets, stocks, commodities, bonds and other markets.
ATLAS also gives ZRO a direct role in its economics.
Trading venues can stake ZRO to qualify for higher fee rebates. After venue rebates, 75% of the remaining ATLAS economics will go toward buying and burning ZRO, while 25% goes to the market creator.
That creates a potential future source of recurring ZRO demand if ATLAS attracts meaningful trading activity.
LayerZero has not announced a firm ATLAS mainnet launch date. Its website currently says the system is coming later this year.
The ZRO rally comes as LayerZero continues to expand its cross-chain infrastructure.
LayerZero recently highlighted monthly cross-chain volumes of roughly $10 billion to $15 billion, with the protocol accounting for a large share of cross-chain activity. Altcoin Buzz recently covered the growth in LayerZero's cross-chain volume and OFT adoption.
The protocol says its OFT standard has facilitated about $290 billion in volume across more than 160 chains, covering stablecoins, tokenized stocks and other assets.
This activity matters for ZRO because LayerZero is increasingly connecting the token to the economic activity of its broader infrastructure.
Despite the bullish momentum, traders also have a supply event to watch.
Around 23.63 million ZRO tokens are scheduled to unlock on October 20, according to DefiLlama data cited by crypto.news. The release is allocated between core contributors and strategic partners.
The upcoming unlock could add selling pressure if recipients decide to sell some of their tokens.
That makes the current rally more important from a technical perspective. ZRO is gaining momentum while the market approaches a sizable scheduled token release.
ZRO now has several factors working in its favor.
The latest $347,000 buyback adds direct market demand. Rising derivatives activity shows growing trader interest, while ATLAS could create another long-term mechanism for ZRO buybacks and burns.
At the same time, the October 20 token unlock remains a potential source of supply.
For now, traders are focused on whether ZRO can hold above $2 and break through the 2.18 - 2.20 resistance zone.
A sustained move above that area would strengthen the recovery and could bring the next major psychological level into focus.
The latest buyback shows that LayerZero continues to put revenue toward ZRO purchases as activity around the ecosystem grows.
ZRO is gaining momentum, but the next test is whether that momentum can survive both higher leverage and the upcoming token unlock.
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