LayerZero whale transfer sparks selling pressure, ZRO price nears critical $0.80 support level.

A LayerZero-linked wallet transferred 2 million ZRO tokens worth about $1.93 million to Binance, raising concerns about potential selling pressure amid already weak market sentiment. Futures markets show dominant selling activity with traders favoring short-term downside bets, while Open Interest rose 8.48% to $84.92 million, indicating increased speculative positions despite bearish conditions. ZRO trades within a descending channel, recently testing the $0.80 support level, which is crucial for potential recovery or further decline. Market caution remains high as traders watch if buyers can defend this support to shift sentiment positively or if sellers will push prices lower.