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The newly launched ZKsync token has made a significant entry into the cryptocurrency market, immediately securing a place on major exchange platforms. As of Monday, the token boasts a remarkable market capitalization of over $935 million and a fully diluted valuation approaching $5.3 billion.&nbsp; 
This impressive debut reflects the high market anticipation and investor confidence in the token’s potential. However,the market has seen a drop in the last 24 hours with the price decline of almost 20% trading at $0.2461 at press time according&nbsp; to coingecko. 
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 <img fetchpriority="high" decoding="async" width="869" height="599" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/screenshoteasy-74.png" alt="ZK/USD 24hr Price Chart (Source: CoinGecko)" class="wp-image-184628" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/06/screenshoteasy-74.png 869w, https://www.cryptotimes.io/wp-content/uploads/2024/06/screenshoteasy-74-800x551.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/06/screenshoteasy-74-768x529.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/06/screenshoteasy-74-860x593.png 860w" sizes="(max-width: 869px) 100vw, 869px">
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 ZK/USD 24hr Price Chart (Source: CoinGecko)
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Binance Spearheads ZK Trading Options 
Leading cryptocurrency exchange Binance was quick to support the ZKsync token, <a href="https://www.cryptotimes.io/2024/06/17/binance-welcome-zksync-zk-with-token-distribution-program/" target="_blank" rel="noreferrer noopener">introducing</a> multiple trading pairs early Monday morning. The addition of pairs such as ZK/BTC and ZK/USDT has broadened trading opportunities, affirming Binance’s role in promoting new cryptocurrencies.&nbsp; 
Furthermore, Binance has planned a token distribution program aimed at boosting user engagement and rewarding participants, which will continue through mid-July. 
Despite the successful launch, the ZKsync token has attracted attention from undesirable quarters, with an increase in scam activities targeting users. Web3 security platform Blockaid reported a significant rise in fraudulent dApps mimicking ZKsync services. These scams primarily aim to deceive users into authorizing transactions, highlighting the ongoing challenges within the crypto space regarding security. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Read Also: <a href="https://www.cryptotimes.io/2024/06/16/zksync-era-airdrop-updated-faq-and-distribution-details/" target="_blank" rel="noreferrer noopener">ZK Nation Releases Updated FAQ on Upcoming ZKsync Airdrop</a> 
</blockquote>

ZKsync Token Debuts Strong with $935M Cap Despite 20% Price Drop

The Crypto Times

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