The change of Coinbase brand of its portfolio in the basic application launched a social overvoltage, sending a Zora activity (Zora) to Overdrive and leading to a solid rally for its token.
Zora, which allows users to enter negotiable tokens related to individual social publications, has seen a spectacular increase in use after the change of brand of July 16 of the application. The basic application features include the publication, the cat and the token typing with a noise, integrated into Zora and Farcaster.
The result, according to dune data, was the creations of daily zora tokens from around 4,000 to more than 15,000, with a peak of 38,000 mints on July 24.
Daily transactions increased from 30,000 to more than 150,000, while the negotiation volume crossed $ 6 million a day, compared to only $ 1 million before the launch.
Zora’s price climbed 440% in last week, from $ 0.011 to $ 0.0615. The token market capitalization reached more than $ 200 million, compared to just under $ 50 million in a week, according to CoinmarketCap data.
Creators’ income has followed the trend, according to dune data.
Daily payments rose from $ 1,000 to more than $ 30,000, while more than 12,000 unique designers joined the rush. More than 8,000 Zora smart wallets were active every day during the boom.
Read more: How will Coinbase rename his wallet?
