Following the official acceptance of the Zicoin ETF application, it was reported that network activity on DoZicoin has surged and prices have continued to trend bullish.
As of the 13th of last month, the number of active addresses on DoZicoin dropped from 74,640 to 4
The number of ETFs increased by 528% to 69,477, indicating a surge in investor participation and network traffic.
The filing has been officially accepted by the SEC. The spot ETF aims to track the price of Dozicoin, which was previously held by Bitwise and Gray.
This is in line with a trend also promoted by Grayscale. The news suggested the possibility of meme coins being incorporated into the institutional sphere, stimulating market optimism.
Market analytics platform Glassnode reported that open contracts in the DowZico futures market surged 70% in the past week, from $989 million to $1.65 billion.
The valuation rose to $1.2 million in 2019, indicating that speculative interest remains high despite the recent price correction.
Glassnode said: "Such gaps between price and open contracts are a signal of potential volatility.
Strong buying has also been observed in the spot market. Cointelegraph reported that Dozicoin’s 90-day cumulative CVD (contracted trading volume delta) is “buyer driven.”
This reflects a buying trend that has continued since early March. A similar pattern in the past was seen in the 385% increase in DOGE coins in Q4 2024.
The NUPL indicator for long-term holders (holding for at least 155 days) recently exceeded 0.5, indicating that holders are taking a positive stance on the market.
These network indicators, interest in the derivatives market, and strong spot buying are laying the groundwork for DowZico to move back to higher levels.
This supports the interpretation that
2025/05/15 14:46 KST
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