ZEUS surges 19% as Zeus Network reveals major upgrades

ZEUS, the native token of the Solana-Bitcoin cross-chain bridge Zeus Network, has seen a significant price increase, rising by 19% in a single day to $0.2931.

At the time of writing, ZEUS was still up 11.6% over the past 24 hours and was trading at $0.2705, according to crypto.news data. During the same time frame, the crypto asset’s trading volume hovered around $15.5 million. The cryptocurrency is also up 59% over the past week.

ZEUS price chart | Source: TradingView

Additionally, ZEUS’s market cap has skyrocketed to $45.4 million. However, the token’s price is still 75% below its all-time high of $1.11 reached on April 8.

The increase in ZEUS follows Zeus Network’s announcement on July 15 about upcoming upgrades that are expected to drive a transformative public testing phase. These upgrades include the development of the APOLLO Testnet and the development of ZeusScan and Muses Wallet to ensure a seamless Mainnet Beta experience.

Muses Update: Technical Update #6

Upcoming upgrades for the Zeus Network are set to drive a transformative public testing phase. We are evolving the APOLLO Testnet and developing ZeusScan and Muses Wallet to ensure a seamless Mainnet Beta experience.

Learn more:… pic.twitter.com/S5zmPJ8Kbg

— Zeus Network 🟧⛈️🟣 (MUSES) (@ZeusNetworkHQ) July 15, 2024

ZeusScan will provide real-time monitoring and management of ZPL assets at Solana, delivering visibility, security and custom insights for asset tracking.

Muses Wallet, which will be released as a multi-chain wallet extension in public testing, will manage ZPL assets on Solana and other blockchains.

ZPL consists of a set of Solana Virtual Machine (SVM) programs that enable developers to integrate native Solana support into decentralized applications and facilitate transactions across multiple blockchains.

Similar to Jupiter’s JUP token, ZEUS tokens are used for a variety of functions within the Zeus Network. By using Jupiter’s launchpad for token launches, the network increases security as token holders can use ZEUS to strengthen safeguards for transactions and interactions.

ZEUS tokens also facilitate access to services such as transaction fee payments, smart contract operations, and access to special features.

In terms of governance, ZEUS token holders can vote on important platform decisions such as protocol upgrades and development directions, involving the community in the governance of the network.

The Zeus Network incentivizes contributions that support network growth and functionality by offering ZEUS tokens as rewards. These incentives include providing liquidity, token staking, and participating in community initiatives that encourage active participation within the ecosystem.

OKX has listed the ZEUS token for spot trading, enabling ZEUS/USDT transactions. This integration aims to increase the potential for decentralized applications and secure financial services by leveraging Solana’s scalability with the security of Bitcoin.

Zeus Network is backed by notable names like Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali. The protocol raised $8 million in funding on April 8, reaching a valuation of $100 million.

The funding supports the development of a cross-chain infrastructure that aims to connect Solana with Bitcoin (BTC) and Litecoin (LTC), taking a significant step towards blockchain interoperability.