Radar

when

Security

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ZKSync (ZK) ranked 98th among the top 100 global cryptocurrencies in the world at press time. It has a market cap of $598.785 Million, and a spot volume of the past 24 hours was $134.589 Million.&nbsp;
The price appeared to have good liquidity, as the ratio between its 24-hour volume to market cap stood at 22.47% at press time.&nbsp;
As per the tokenomics of ZKSync, 3.675 Billion tokens (17.50%) were circulating within the people’s hands out of the total supply of 21.0 Billion ZKs.
On the daily chart, ZK marked a new all-time high (ATH) on its first daily candle, where it recorded a peak of $0.3202 on June 17th, 2024. Its current price traded nearly 50% below the peak level.&nbsp;
Meanwhile, the all-time low (ATL) was recorded on the same day as ATH on June 17th, 2024, where the low was equal to open at $0.09450.
<h2 class="wp-block-heading" id="h-new-bird-zksync-zk-project">New Bird ZKSync (ZK) Project</h2>
<a href="https://www.thecoinrepublic.com/2024/06/24/a-beginners-guide-to-the-zksync-ecosystem/" rel="noopener noreferrer nofollow">ZK utilizes</a> cryptographic validity proofs to deliver scalable and low-cost transactions on Ethereum. Beyond this, the BrokerScore provided by the Chain Broker website highlighted that ZK received a 9.24 out of 10 rating for its roadmap and timeline.&nbsp;
<figure class="wp-block-image is-resized"><img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdPJu_PGB6LFo_3mjpWqGHs0mS6OyFV0r6IHNF7YgaYBssR2zQVohVqXpThlZinPkn9wIlFznhf8RV3-bNZLg64px3Kjll7OzdpSf0zU-_C6CwehCRQkobq7LJc_g_BwHKI1d-RuKltIv2m4xS4g338IMHQ?key=KqhHI4gmkN-jivQWD3ciqQ" alt="ZKSync" style="width: 100%;height:auto">
 <figcaption>
 Twitter Score &amp; Top Twitter Followers | Source: Chainbroker
 </figcaption>
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Meanwhile, For the project’s involvement in its development activity, social community, and online presence, it scored 9.50 out of 10. It also has a good Twitter score of 500 out of 1000, with major followers like @vitalik.eth, @Fred Ehrsam, and many more.
Moreover, the asset has 19 backers, and in the lead are a16z, placeholder Ventures, Dragonfly Capital, and Blockchain Capital. The security score produced by CERTIK Skynet highlights that ZkSync has a ‘BBB’ tier security score of 78.28.&nbsp;
<figure class="wp-block-image"><img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdMB5XfCA0K1xuazW5V2gCmxkj47Vf_2wYyTWxIY2IeCJ2YNZVk3bILycesD4aOcOepTry1DzIXJcVRnGOYeQuIbF7a2I40qGzanvkzIRv_9PQTCnWz35Db54SE5345i-tAa-gjirAd43GCfsea5JG74jw?key=KqhHI4gmkN-jivQWD3ciqQ" alt="ZKSync">
</figure>
Security Score &amp; Score Radar | Source: Chainbroker
After evaluating the ZKSync based on the quality of backers, security measures, and the project’s ability to generate value and its fundamental solidity, it received a score of 7.54 out of 10. Similarly, its market and financial health and performance metrics were moderate at 5.03 and 6.63, respectively.
<figure class="wp-block-image"><img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdjBLc_SdEKwCN8QJA8ayJF3rCpzATGDfmFKOGSWxfWpkVxDEihhmSIJl_e853O274NS0USxoXYBMHFsPKDDgc3CaFEiF5FSsT-dR9flmzul13Fh8k4T1rFg4TWSa1Tn5tTNSBKI77VZ71Pk1D5go8i3_YQ?key=KqhHI4gmkN-jivQWD3ciqQ" alt="ZKSync">
 <figcaption>
 Vesting Schedule ZKSync | Source: Chainbroker
 </figcaption>
</figure>
Additionally, the Vesting Schedule has been set to begin next year in January 2025, when by the end of the year, there will be more tokens in circulation. It would increase its supply to 5.5 Billion from current circulation.&nbsp;
The Vesting for the token appears to be set for mid-June 2028, where it would have unlocked 10.7 Billion. The 7.59 out of 10 is a moderate to good rating overall, considering the project hasn’t spent a long time in the crypto market.&nbsp;
<h2 class="wp-block-heading" id="h-zksynce-zk-price-analysis">ZKSynce (ZK) Price Analysis</h2>
ZKSync (ZK), the newcomer, showed a spike initially, but profit bookers interrupted the advancement. Thus, a giant wick was formed due to the bears’ dominance, which led the ZK to deteriorate into a wedge. It followed certain lows up to $0.1267 by July 5th.
Thereon, BTC showed sustenance, and the majority of the crypto landscape turned bullish, and it appears to be one of them. The Analyst also believes the ZK price will rise on the 4-H TF.
<a href="https://in.tradingview.com/chart/ZKUSD/KB7Zr5wl-BTC-showed-sustenance-and-the-majority-of-the-crypto-landscape/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a>
By looking at the price chart from the perspective of Anlayst @cihat Ozturk, the price could propel once past the resistance zone around $0.2000. Breaching that level would be crucial to generate momentum.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24Zk&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$Zk</a> <a href="https://t.co/majbhp401S" rel="noopener noreferrer nofollow">https://t.co/majbhp401S</a> <a href="https://t.co/OanYS4wk6k" rel="noopener noreferrer nofollow">pic.twitter.com/OanYS4wk6k</a>— Cihat Öztürk ツ (@CihatOzturk_) <a href="https://twitter.com/CihatOzturk_/status/1811041679849165072?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 10, 2024</a>
 </blockquote>
 </div>
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When writing, the falling wedge pattern seemed to be forming. If it crosses the upper trendline, the bullishness could prevail. However, if the price falls, the nearest support to hold would be $0.1500 and $0.1267.
<h3 class="wp-block-heading" id="h-summary">Summary</h3>
Despite a recent price drop from its all-time high, ZKSync has a good overall rating due to its strong backing, security measures, and potential to deliver fast, cheap transactions. Analysts believe ZK’s price could rise if it breaks above $0.20 resistance.&nbsp;&nbsp;
The post <a href="https://www.thecoinrepublic.com/2024/07/13/is-zksync-zk-preparing-to-break-past-its-all-time-high-again/" rel="noopener noreferrer nofollow">Is ZKSync (ZK) Preparing To Break Past Its All-Time High Again</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Is ZKSync (ZK) Preparing To Break Past Its All-Time High Again

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