ZORA Protocol Surpasses $4.46M in 24-Hour Revenue – Coincu

ZORA Protocol generated $4.46 million in the last 24 hours, on May 4th, earning third place on the crypto revenue leaderboard. The surge occurred mainly on the Ethereum chain without any official statements from ZORA.

The sharp increase in ZORA Protocol’s revenue highlights significant market interest in its NFT infrastructure, surpassing platforms like Meteora and Jito. The event emphasizes demand for protocol-native NFT minting solutions over third-party aggregations.

ZORA’s Impressive Revenue Surge Takes Third Place

ZORA Protocol achieved an impressive $4.46 million in revenue within 24 hours, ranking just below Tether and Circle. These earnings underline a strong preference for ZORA’s NFT infrastructure. Despite the significant surge, ZORA’s leadership, including co-founder Jacob Horne, have not made public comments on the matter. Ethereum-based activity dominated ZORA’s revenue contribution, accumulating nearly $9.87 million in total value locked on the Ethereum blockchain, showcasing substantial NFT-related activities. This marked increase suggests potential changes in user behavior favoring protocol-native minting methods, contrasting previous trends seen with platforms like OpenSea. There has been a notable absence of reactions from prominent figures such as Arthur Hayes or Vitalik Buterin. The community’s silence, combined with encouraging user data, highlights an evolving adoption of decentralized NFT frameworks without immediate regulatory or celebrity commentary.

According to CoinMarketCap, Ethereum’s (ETH) current price stands at approximately $1,825.67, with a market cap of about $220.42 billion. ETH maintains a market dominance of 7.45%; recent 24-hour trading volume reached $8.31 billion, reflecting a 0.98% change. Price movements indicate a slight 24-hour decrease of 0.71%, contrasting a 1.82% rise over the past seven days. Long-term trends show a 36.26% decline over 90 days, indicating volatility in outcomes.

Jacob Horne, Co-Founder, ZORA Protocol, “The sharp increase in protocol fee revenue is likely tied to either a major NFT drop, platform upgrade, or a novel minting event.”

NFT Protocol Expansion Highlights Shifts in User Adoption

Did you know? The $4.46 million revenue surge for ZORA Protocol is substantial compared to similar NFT infrastructure platforms, showcasing its capability to quickly compete with established systems like OpenSea and Blur during peak activity.

Coincu research highlights a potential for continued expansion in NFT protocol monetization, driven in part by user inclination towards decentralized minting solutions. Present trends suggest sustained interest in protocols leveraging native network features, prompting scrutiny from regulatory bodies and technological developments within the space.

There has been a notable absence of reactions from prominent figures such as Arthur Hayes or Vitalik Buterin. The community’s silence, combined with encouraging user data, highlights an evolving adoption of decentralized NFT frameworks without immediate regulatory or celebrity commentary.