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ZKsync's ZK Token Goes Live

The ZK token is currently trading at a fully diluted value of $4.7 billion.
David C David C Jun 17, 20241 min read
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ZKsync's ZK Token Goes Live

Claims for ZKsync's ZK airdrop went live today, with the token currently trading at around $0.22.

What's the scoop?

  • Market Capitalization: The token's market capitalization is ~$835M, with a fully diluted value (FDV) of $4.7B.
  • ZK on Exchanges: According to Coingecko, ZKsync trading volume has reached ~$855M since launch. The token is available on centralized exchanges like Binance, Bybit, Gate.io, and KuCoin. For Binance, withdrawals will be available starting June 18, 2024, at 4 a.m. EST.
  • FDV Comparables and Sentiment: Twitter sentiment is skewing positive, with many believing ZK may be undervalued given its FDV relative to other recent airdrops. For context, Starknet initially traded at a >$30B FDV when it first launched.

Bankless Take

One of the most long-awaited airdrops, ZK’s launch at an FDV of ~$4.7B looks to have solid upside, considering other FDV’s like Starknet’s and the depressed market state. This can be seen further in that most people who claimed ZK have chosen to hold their airdrops rather than sell. While it is early and this breakdown could change, sentiment on Twitter currently signals that it may be best to hold at least a little of your airdrop if you received ZK.

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David C

Written by David C

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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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