ZORA has entered a new volatile phase as two bearish catalysts hit the ecosystem within days. Coinbase delisted ZORA perpetual futures on August 26, and a ZORA token unlock occurred on August 30. Around 166.7 million tokens unlocked at prices near $0.006; that supply was worth about $1 million.
The two events explain the rising number of questions around “why is Zora crypto crashing” and “why is Zora crypto down.” ZORA already trades far below its 2025 peak. The new supply creates yet another overhang, and the Coinbase ZORA delisting hurts derivatives access, while the Zora network growth potential is far from realized.
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