ZETA token surges 63% following vote to shut down ZetaChain layer 1

The ZETA token rose 63% in 24 hours after a governance vote approved the closure of the ZetaChain layer 1 network with 99.4% support. The project will transition to become a native SPL token on the Solana ecosystem at a one-to-one exchange rate. Existing ZETA tokens on Ethereum and BNB Chain are excluded from this migration. A second vote is required to finalize the shutdown block and withdrawal instructions.