An unknown entity has been secretly accumulating LayerZero's ZRO tokens, acquiring ₹380 crore worth of ZRO - approximately 24.5 million tokens, representing 2.6% of the circulating supply. According to crypto analytics platform Nansen, this accumulation spree has been occurring across 9 wallets, funded by a single source: Coinbase Prime. The firm noted that accumulation began exactly 3 weeks after the Zero chain announcement, raising speculation among market watchers about potential insider connections.
LayerZero CEO Bryan Pellegrino has categorically denied any knowledge of the mysterious investor, stating that the company has no special deals or discounts for institutional buyers. As reported by AMBCrypto, Pellegrino emphasized their preference for investors to buy ZRO directly on the open market rather than purchasing from labs or foundation. The Zero chain is scheduled to go live in fall 2026, having attracted major financial backers including Citadel Securities, Tether, Ark Invest, and Google.
ZRO has experienced a 60% recovery from the range low of $1.49, reaching $2.5, a key resistance zone since H2 2025. According to Glassnode data, over 34 million ZRO was acquired at the resistance zone, which could pressure late buyers to wait for another buying opportunity at $1.5. However, the 14-day average Holder Net Position Change shows investors are still holding and adding to their positions, with green bars indicating continued accumulation.
The technical analysis reveals that flipping $2.5 into support could fuel a rally to $3.3, while failure to break this level could derail ZRO's recovery momentum. As noted by AMBCrypto, it remains unclear whether the mysterious whale buyer was planning to sell the tokens when the chain goes live, adding uncertainty to the project's near-term price trajectory.
