After reaching a market capitalization of over $14 million, the ERC-20z token deployed by ZachXBT experienced a pullback, with a 24-hour trading volume of $1.08 million.

BlockBeats News, November 5th, according to GMGN data, the ERC-20z token deployed by ZachXBT saw its market cap surpass $14 million before falling back, with the current market cap at $7.94 million, priced at $2250.74, and a 24-hour trading volume of $1.08 million.

It is reported that notzachxbt posted on social media that the renowned on-chain detective ZachXBT deployed an ERC-20z token on the Base network on August 19, 2024. The token utilized the Zora protocol to automatically create a liquidity pool. This token is part of ZachXBT's latest investigative report and adopts Zora's new standard. Approximately 2800 tokens were minted for this token. After the minting was completed, the contract automatically deployed these tokens and a portion of the ETH income to a locked liquidity pool. All fees go to ZachXBT.

After minting, the token's price remained below $10,000 in market cap for two weeks, after which it started to gain attention from traders. Most of the liquidity pool is controlled by a DAO multisig wallet. ZachXBT's supporters have built a community around this token, creating memes, a Telegram group, and a Twitter account, and even bridged the token to the Solana network for trading.