A significant whale has significantly increased selling activity as LayerZero [ZRO] faces continued downward pressure. According to AMBCrypto and Arkam reports, the whale transferred 3.51 million ZRO tokens worth $3.96 million to Binance over the past 24 hours, making the deposits in portions. Despite these substantial sales, the wallet still maintains 1.2 million ZRO tokens valued at $1.2 million, suggesting the holder has not fully capitulated. This major holder exit comes as ZRO has closed at lower lows for three consecutive days, breaching the crucial $1 support level to reach a low of $0.09. The whale selling further exacerbated an already weakened market, with such major holder depositing during a period of weakness likely to lock in gains and cover operational expenses.
Recent developments show another significant whale transfer adding to the selling pressure. As per AMBCrypto, a LayerZero-linked wallet transferred 2 million tokens worth about $1.93 million to Binance, raising fresh concerns about potential selling pressure. Large deposits to exchanges often attract attention because they increase the immediately available supply, and this move arrived as sentiment already weakened across derivatives markets. The transaction did not confirm an imminent sale but added another layer of uncertainty to a market that has already struggled to attract sustained buying interest throughout the past several months. This whale activity further reinforced concerns and kept attention focused on whether sellers would continue dictating short-term direction.
Selling activity remained dominant across the futures market as aggressive traders continued to hit bids rather than chase higher prices. According to AMBCrypto analysis, the Futures Taker CVD reflected clear seller dominance, indicating that market participants had actively favored short-term downside exposure. This behavior aligned with ZRO's broader decline and suggested that buyers had not regained meaningful control despite occasional recovery attempts. Open Interest climbed 8.48% to $84.92 million, showing that traders had added fresh positions rather than reducing exposure. Rising Open Interest alongside persistent selling pressure often signals that participants are building new directional bets instead of closing existing ones, indicating that traders remained highly engaged despite weakening price performance.
According to AMBCrypto analysis, ZRO continued trading within a well-defined descending channel that has guided price lower since March. Price recently revisited the channel's lower boundary near the $0.80 support area before attempting a modest rebound. The RSI stood at 38.08, showing weak conditions without reaching oversold territory, while MACD displayed signs of recovery as histogram bars turned positive and the indicator narrowed its bearish gap. However, MACD had not completed a bullish crossover capable of changing the larger trend. If buyers defend the $0.80 support zone and reclaim resistance near $1.255, sentiment could improve and encourage stronger recovery attempts. However, if sellers maintain control and price loses support, the broader downtrend could continue toward lower levels.
