The ZKsync token, currently priced around $0.25, went live on Monday, quickly securing listings with various trading pairs across multiple cryptocurrency exchanges. The token’s market capitalization has surpassed $935 million, with a fully diluted value estimated at approximately $5.3 billion. With a maximum supply of 21 billion tokens, the circulating supply currently stands at over 3.6 billion.
High Trading Volume and Exchange Listings
According to Coingecko, ZKsync’s trading volume reached nearly $99 million within hours of its launch. The token is now available for trading on centralized crypto exchanges such as Bybit, Gate.io, and KuCoin. As of 7:42 a.m. ET, the token was priced at $0.2558.
Binance Listing and Distribution Program
Binance listed the ZKsync token at 6 a.m. EST, offering spot trading pairs including ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY. Withdrawals will be available from June 18, 2024, at 4 a.m. EST. Binance also announced a token distribution program running from June 17 to July 16, 2024, which will distribute 10.5 million ZK tokens to eligible users. The exchange acknowledged community concerns regarding the distribution methodology, particularly the filtering out of Sybil farmers in the airdrop program.
Scammers Targeting ZKsync
The Blockaid web3 security platform has reported a significant increase in malicious dapps targeting ZKsync users. These dapps impersonate the ZKsync eligibility checker, leading to a fivefold increase in scams on the day of the checker’s release. Blockaid CEO Ido Ben-Natan explained that these impersonation scams use drainer SDKs to evade detection, targeting users through social media platforms like Twitter/X.com.
About ZKsync Era
ZKsync Era is a Layer 2 network designed to enhance Ethereum’s scalability using advanced zero-knowledge proof technology. It aims to improve Ethereum’s throughput while maintaining the network’s core principles of freedom, self-sovereignty, and decentralization at scale.
The launch of the ZKsync token marks a significant development in the crypto space, with strong initial trading volumes and widespread exchange listings, despite facing challenges from scammers.
