🐋 Whale offloads $3.96M in $ZRO — $1 support gets one big "hold my dip" test

A LayerZero [ZRO] whale transferred 3.51 million ZRO tokens worth $3.96 million to Binance over the past 24 hours, according to Arkham data. The deposits were executed in portions while the wallet still retains 1.2 million ZRO valued at $1.2 million. The selling came as ZRO slipped from a recent $1.20 peak back toward the $1 support level.

ZRO had reclaimed $1 following the protocol's earlier hacking incident, but faced rejection at $1.2 and has since closed at lower lows for three consecutive days, briefly breaching $1 support to a low of $0.09. At press time, LayerZero traded at $1.007, down 5.7% on the daily chart.

On-chain flow data pointed to broader distribution. ZRO's Exchange Flow Balance remained positive at press time, hovering around 5,000, indicating more tokens moving onto exchanges than off, a pattern consistent with net selling pressure across market participants.

Technical indicators reflected the same picture. The Stochastic Momentum Index sat at 6, deep within oversold territory, signaling that sellers are currently dominating order flow. With momentum tilted to the downside, the $1 level remains the immediate line in the sand for the token. A break below that support opens a path toward the $0.88 area, while a successful defense could set up a move back toward $1.30.