DoubleZero jumps 29% as buying breaks $0.075 resistance

  • DoubleZero (2Z) gained more than 29% and led the top 200 cryptocurrencies.
  • 2Z cleared $0.075 as open interest rose 113% and volume exceeded $50 million.
  • DoubleZero plans to release about 1.77 billion 2Z on October 2.

DoubleZero (2Z) rose more than 29% in 24 hours, leading gains among the top 200 cryptocurrencies during a broader market rebound. The token has formed higher highs and lows since breaking its trendline, cleared liquidity above equal highs near $0.060 and moved beyond $0.075. Cumulative volume delta showed 19.57 million 2Z tokens bought at press time, while the Stochastic Momentum Index was near maximum levels. If buying continues, analysts identified $0.095 and $0.120 as potential targets, with 2Z needing to hold above $0.075; the trendline-break area near $0.050 represents downside risk. Open interest climbed 113% and volume rose 107% to more than $50 million. CoinGlass data showed $2 million in cumulative long liquidation leverage versus $955,000 in short orders. Institutional wallet activity included Fireblocks sending 1.452 million 2Z worth $102,000 to a BtcTurk cold wallet, Wintermute sending 1.113 million tokens to Bybit's hot wallet, and Upbit transferring more than 14 million 2Z worth over $800,000 among its hot wallets. Binance and Wintermute also moved tokens across wallets. About 1.77 billion 2Z, valued at more than $124 million and representing 17.79% of maximum supply, is scheduled for release on October 2, lifting circulating supply to 51% from a current locked share of more than 65%. Most vested tokens were allocated to Jump Crypto, Malbec Labs and other institutions and contributors, creating a potential supply overhang that traders will monitor in the week ahead.

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