Zora Token Soars 440% as Coinbase Rebrands to Base App

News10 hours ago783 Views

Coinbase recently rebranded its Wallet into the Base App, igniting a significant boom in SocialFi and sending the lesser-known Zora token (ZORA) soaring by 440% within a week. Following the rebrand on July 16, Zora, a platform enabling users to mint tradable tokens linked to social media posts, experienced a surge in activity.
The revamped Base App now features capabilities such as posting, chatting, and one-tap token minting, all integrated with Zora and Farcaster. Data from Dune shows that daily Zora token creations skyrocketed from about 4,000 to over 15,000, peaking at an impressive 38,000 mints on July 24. Additionally, daily trading volume surged from $1 million to over $6 million, with trades leaping from 30,000 to more than 150,000.
As a result of the increased activity, the price of ZORA jumped from $0.011 to $0.0615. The token’s market capitalization also saw a remarkable rise, surpassing $200 million from a previously modest market cap of just below $50 million, according to CoinMarketCap data. Creator earnings surged in tandem, with daily payouts increasing from approximately $1,000 to over $30,000 as more than 12,000 unique creators joined the platform during this boom. Over 8,000 Zora Smart Wallets were active daily throughout this exciting period.
With this surge in SocialFi activity, all eyes are on Zora and the implications of Coinbase’s strategic rebrand.

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