Zama (ZAMA) extended its recent market breakout with a 17.55% gain over a 24-hour period, following a technical confirmation after successfully retested an ascending channel resistance level as support at $0.074. The price movement has been accompanied by strengthening on-chain fundamentals and rising participation across spot and derivatives markets.
Record TVL and Ecosystem Growth
A key driver behind the advance is the continued expansion of the Zama ecosystem. The network's Total Value Locked (TVL) climbed to a new all-time high of $99 million, reflecting increased capital commitment to the protocol. Growth across Morpho vault expansion and Zama Swap further contributed to the TVL increase, signaling improving ecosystem usage and investor confidence.
Derivatives Activity and Trading Volumes
Market participation has strengthened significantly across multiple sectors. Open Interest for the network spiked by more than 29% to reach $38.71 million, indicating that fresh capital is entering the futures market as traders position for potential further advances.
Despite the broader bullish momentum, short positions held a slight advantage in the futures market, with the token's long/short ratio standing at 0.94 at the time of writing. However, both spot and futures trading volumes surged by more than 100% over the 24-hour window, illustrating broad-based demand from various market participants. Spot volume climbed by 140% to $115 million, while futures trading volume also surged by 140% to $65 million.
Technical Outlook
On the daily chart, the next major technical objective for bulls is the $0.108 swing high. Continued expansion in TVL, sustained growth in Open Interest, and elevated trading activity could provide the momentum required for buyers to challenge that level. Analysts note that while long-term fundamentals and on-chain metrics support the broader market structure, a short-term period of profit-taking could occur following the rapid 17% advance, particularly given the slight dominance among leveraged short positions.
