Zebec (ZBC) coin launches on exchanges after raising $28 million; Solana benefits

YEREVAN (CoinChapter.com) – ZBC coin, the native token of Sonala-based payment protocol Zebec, traded at $0.043 in Thursday’s New York session. It launched on multiple exchanges after the team raised over $28 million from private and public investors. The 30-minute chart below shows the token’s price progression throughout Mar. 17.

The Zebec coin sales yielded $21 million from private token sales and $7 million from public sales, i.e., 75% and 25%, respectively. Solana Ventures, Coinbase, Lightspeed Venture Partners, Circle, and Alameda Research were the most prominent private backers. Notably, both private and public investors paid $0.021 per token.

Also read: Bitcoin rallies over $41K after Fed raises interest rates — but a BTC selloff appears likely.

Sam Thapaliya, the payment platform’s founder, commented on equal pricing, emphasizing the importance of equal opportunities for purchase. He also mentioned that “a public sale is not a capital-generating event” and added that crypto is all about giving access to the public, the same access that private investors get.

Zebec also plans to introduce incentives for developers building on the platform and staking rewards for ZBC coin holders. Additionally, the coin holders would be able to list the tokens on a Solana-based Zebec debit card.

Also read: Aave token jumps over 15% in a day after launching V3 liquidity pool.

Meanwhile, the protocol’s success might have rubbed off on Solana, as its native token SOL grew 10% in price since the ZBC launch.

Solana bulls impressed by Zebec?

SOL traded at just over $90 after weeks of sideways consolidation. However, Zebec’s successful fundraising might have lifted the spirits of Solana bulls, as the token broke a significant resistance. As the daily chart below indicates, SOL traded in a Descending Channel for over four months.

The formation entails two parallel trendlines that gradually drive the price down, preventing breaks in either direction. Finally, however, Solana’s token broke the Channel’s resistance on Mar. 16, after dropping below the $84 support line.

Also read: Solana price risks plunging by over 60% next as SOL nears key inflection point.

Solana’s trading volumes did not increase, meaning the uptrend might be short-lived. So, the upcoming sessions will show if SOL can maintain the bullish momentum.