KuCoin Flash reports that, as of publication, the ZETAUSDT perpetual contract is trading at 0.06398 USDT, up 69.12% over the past 24 hours. KuCoin recorded trading volume of approximately 46.28 million ZETA, equivalent to 2.86 million USDT. Open interest stands at 15.72 million ZETA, valued at approximately 1 million USDT. Both the mark price and index price are 0.06398 USDT, while the funding rate is -0.0124%.
The rally in ZETA closely followed the approval of a major ZetaChain governance proposal. Proposal 68 concluded on September 20 with 99.4% of votes in favor, while votes against and abstentions each accounted for 0.3%. Participation reached 58% of eligible stake, exceeding the required 40% quorum. The proposal authorizes the migration of the ZETA token to Solana and the gradual wind-down of the existing ZetaChain Layer 1 network.
Under the approved framework, native ZETA will be converted into an SPL token under the same ticker at a 1:1 ratio. The total supply will remain unchanged, and existing vesting schedules will continue. The approved vote is an authorization rather than an immediate migration trigger. A second governance proposal must define the snapshot block, claim process, migration schedule and final shutdown date. Until that proposal is approved and implemented, the current Layer 1 network and existing balances remain operational. Official ZetaChain migration proposal
The decision also represents a substantial change in the direction of the project. ZetaChain was originally developed as a universal interoperability network that allowed applications to access assets and users across multiple blockchains. The new strategy concentrates resources on private AI and encrypted memory infrastructure, led by the multi-model AI application Anuma. ZetaChain now describes itself as a private memory layer for AI, allowing users to retain context, files and preferences across models while controlling which applications and agents can access that information.
User growth at Anuma provides a product foundation for the transition. Official ZetaChain data shows more than 304,000 wallets created, approximately 290,000 conversations and 22.2 billion tokens processed over the past 90 days. The platform currently tracks 35 AI models from 14 providers. A recent project update also reported that Anuma had routed more than 1.2 million AI requests through its open-source model gateway.
Following the migration, the utility of ZETA is expected to focus more directly on Anuma. The token is designed to unlock AI models and agents, support encrypted memory vaults, settle model usage, pay for permission updates and reward creators. Token locking is already active, with 100,000 locked ZETA providing access to Anuma Pro, establishing a more direct relationship between demand for the token and use of the AI product.
CoinMarketCap identified the governance result as the principal catalyst behind the latest rally. Before the proposal passed, the price of ZETA had traded primarily around the 0.03–0.04 USDT area. The market then moved decisively above the previous consolidation range, with the KuCoin perpetual contract reaching 0.06398 USDT. The negative funding rate indicates that bearish positioning remains present in the derivatives market, allowing short covering to amplify the move as the price rises.
Overall, the advance in ZETA reflects a rapid repricing of the strategic transformation at ZetaChain. Following the approval of Proposal 68, the project is shifting from an independent Layer 1 and universal interoperability model toward a private-AI ecosystem centered on Anuma. More than 300,000 user wallets, over 1.2 million AI requests and expanded token utility across model access, encrypted memory and settlement provide operating support for the new direction. The next phase will depend on the execution terms of the second migration proposal and the continued adoption of Anuma.
