Token

zkSync

<ul> 
 <li>ZKsync’s ZK token saw 45% claimed swiftly in its airdrop, boosting community engagement from the get-go.</li> 
 <li>Despite a 13% decline, ZK token holds a robust $800M market cap based on eligible supply.</li> 
 <li>Matter Labs allocated 89% of ZK tokens to active users, ensuring broad community involvement and governance.</li> 
</ul> 
<p>ZKsync, the prominent layer-2 blockchain, has initiated its highly anticipated distribution of the ZK token, with an impressive 45% already claimed within hours of the launch. This move marks a significant milestone for the platform as it seeks to bolster user engagement and community participation.</p> 
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   <p lang="en" dir="ltr">More than 45% of the airdropped ZK token supply has been claimed by over 225,000 addresses in less than 2 hours <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f633.png" alt="😳" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>It's a Monday, don't you have work? <a href="https://t.co/gSA8mc0QOg">https://t.co/gSA8mc0QOg</a></p>— ZK Nation (@TheZKNation) <a href="https://twitter.com/TheZKNation/status/1802626483770265991?ref_src=twsrc%5Etfw">June 17, 2024</a>
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<p><strong>Market Insights and Token Performance</strong></p> 
<p>The ZK token debuted at $0.31 but has since experienced a downturn, currently trading at $0.21, reflecting a decline of approximately 13% according to <a href="https://www.coingecko.com/en/coins/zksync" target="_blank" rel="noreferrer noopener">CoinGecko</a>. Despite this, the initial market capitalization stands robustly at $800 million, based on the circulating supply of tokens eligible for distribution.</p> 
<p>Despite technical setbacks, ZK token is already available on major exchanges such as Binance, Bybit, and KuCoin. Binance has <a href="https://x.com/binance/status/1802629976430346738" target="_blank" rel="noreferrer noopener">assured </a>users that deposits will be credited promptly once technical hurdles are resolved.</p> 
<p><strong>Platform Governance and Distribution Strategy</strong></p> 
<p>Matter Labs, the driving force behind ZKsync, recently established the ZKsync Association to oversee the airdrop process. Notably, 89% of the tokens are earmarked for ZKsync users who engaged with the blockchain and met an unspecified threshold of activity.&nbsp;</p> 
<p>The remaining tokens go to ecosystem contributors including: ZKsync native projects (5.8%), on-chain communities (2.8%) and builders (2.4%). The rest of the token supply will be split and go to ZKsync’s Token Assembly (29.3%), which will use it for new governance purposes, and the rest to Ecosystem Initiatives (19.9%)</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/matter-labs-backs-down-on-zk-trademark-after-industry-pushback/">Matter Labs Backs Down on ‘ZK’ Trademark After Industry Pushback</a></li>
 <li><a href="https://cryptonewsland.com/ethereum-foundation-launches-zk-grants-round-900k-shared-prize-pool/">Ethereum Foundation Launches ZK Grants Round: $900K Shared Prize Pool</a></li>
 <li><a href="https://cryptonewsland.com/symbiosis-shakes-up-dex-scene-with-zksync-integration/">Symbiosis Shakes Up DEX Scene with zkSync Integration</a></li>
 <li><a href="https://cryptonewsland.com/zklink-nova-launches-mainnet-the-first-zk-stack-based-aggregated-layer-3-rollup-built-on-zksync/">zkLink Nova Launches Mainnet, The First ZK Stack-based Aggregated Layer 3 Rollup Built on zkSync</a></li>
 <li><a href="https://cryptonewsland.com/hackers-strike-zksync-dex-merlin-steal-1-82-million/">zkSync DEX Merlin Hacked: Over $1.82 Million Stolen</a></li>
</ul> 
<p>The post <a href="https://cryptonewsland.com/zksyncs-zk-token-market-cap-hits-800m-amid-airdrop-success/">ZKsync’s ZK Token Market Cap Hits $800M Amid Airdrop Success</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

ZKsync’s ZK Token Market Cap Hits $800M Amid Airdrop Success

Crypto News Land

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