Everything is ready for the listing on the major crypto exchanges of the new governance token of the layer-2 ZKsync Era, which will debut with the ticker ZK.
Several first-tier exchanges such as Bybit and Bitget have already announced the imminent launch with the green light for trading to be given as soon as the necessary liquidity conditions are met.
The crypto is being traded in premarket in a range between 0.3 – 0.4 dollars, but it could have a much more dynamic price action in the coming hours, with ZK potentially reaching even 1 dollar.
The airdrop farmers of the ZKsync ecosystem celebrate and take home one of the most profitable token launches ever.
All the details below.
Summary
ZKsync token: here is the listing of the ZK crypto on all major exchanges
The famous rollup layer-2 of Ethereum ZKsync Era is about to launch its new governance token ZK through a scheduled listing with the best exchanges in the cryptographic landscape.
After the controversial announcement of the airdrop last week, now everything is ready for the inauguration of the long-awaited crypto of ZKsync, which is expected to compete with the top 50 cryptocurrencies in the market.
This morning came the announcement of the listing of Binance, which despite the complaints from the community after the announcement of the checker for the airdrop, has decided to support the project.
ZK will be launched at 12:00 AM Italian time in the following trading pairs: ZK/BTC, ZK/USDT, ZK/FDUSD and ZK/TRY, accompanied by a distribution program for Binance users.
In the wake of one of the most followed debuts by the crypto community, other top-tier exchanges like Bybit and Bitget have announced their support for the listing of the coin, without however giving clear indications on the start time of trading.
The reason for this “superficial” communication is probably due to the fact that with the ongoing airdrop there could be technical issues and congestion on the ZKsync blockchain, therefore the two exchanges prefer to update their users in real-time.
According to reports, the listing of ZK will arrive “when the liquidity meets the listing requirements.”
The cryptographic platform Gate.io has also confirmed the listing, with the trading pair ZK-USDT that will kick off at 10:00 AM Italian time. ZK can be traded on the Chinese exchange only through the stablecoin USDT.
Kucoin, however, has not yet announced a listing today, despite having supported the pre-market of ZK in previous days. According to some rumors, reinforced by some information that emerged from their website’s APIs, the token of the ZKsync project will be launched tomorrow, Tuesday, June 18, on the exchange.
Obviously, all this is not yet confirmed and a denial from the platform or even an anticipation of the listing could arrive.
Coinbase Institutional has instead announced that it will include ZK in the list of tokens accepted for custody in the Coinbase Prime program.
In any case, the crypto will not be tradable on Coinbase Exchange, and at the moment there are no plans for listing in this regard.
Payday for the airdrop farmers of the ZKsync community
Despite the dissatisfaction of a large portion of the crypto community and the media frenzy that erupted last week regarding a distribution airdrop that was not very “fair” by ZKsync, many farmers are about to celebrate a big haul.
Several users and protocols dissatisfied with the airdrop have asked ZKsync to expand the conditions of eligibility of ZK to a wider pool, but the layer-2 team has refused.
With a post, he explicitly responded that the choice to reward fewer individuals but with a higher allocation was studied so that it could generate a “life-changer” opportunity for many early adopters.
Il mercato finanziario è spesso descritto utilizzando i termini “bull” e “bear”. Un mercato “bull” indica una fase di crescita, mentre un mercato “bear” rappresenta una fase di declino. Gli investitori devono essere consapevoli delle dinamiche di “bull” e “bear” per prendere decisioni informate.
In total, 695,232 addresses have been rewarded, with an overall allocation of 3.675 billion ZK tokens, equivalent to 17.5% of the total supply of the ZKsync coin.
The claim was officially opened on Tuesday, June 11 at 09:00 Italian time at the official portal of ZkNation.
This airdrop could establish itself as one of the most important in the history of crypto, judging by the high number of tokens allocated to the community, and taking into consideration the technological potential of the zero knowledge proofs technology.
The majority of eligible users can claim an amount between 450-5000 ZK while the minority will have access to more significant shares ranging from 5000 ZK and up to a maximum of 100,000 ZK (reserved for only 155 users).
On paper, it does not seem like a particularly decentralized distribution since more than 80% of the eligible addresses can redeem less than 5000 ZK, while the remaining 20% retains the larger portion.
Listing price of ZK: the scenarios based on the FDV
At this point, we can talk about the listing price and the relative “Fully diluted Valuation”(FDV) that ZK can reach in the next few hours as soon as trading begins.
According to the pre-market prices of Kucoin, Whales.market, and Biget, the token will be traded in a range between 0.3 – 0.4 dollars, with a downward quotation of 60% compared to the estimated prices before the airdrop checker was released last week.
This kind of forecasts based on the pre-market should still be taken with a grain of salt since we are talking about markets that are not very liquid and with very few trades.
We can more likely expect an initial listing price between 0.4-0.5 dollars, as ZKsync is one of the most anticipated projects in the Ethereum ecosystem in recent years.
Obviously, given the large allocation for the airdrop, the first minutes of trading could open in favor of sales, with the situation likely to stabilize in the following hours.
It is not excluded a launch of ZK above the dollar, only to quickly drop to the downside: for those who are eligible for the airdrop, arriving before others could mean benefiting from a significantly higher price.
Check the price on DEX (SyncSwap, Izumi etc.) as soon as liquidity is added to the ZK-ETH pair, and consider selling on decentralized exchanges rather than waiting for the transfer times to a CEX.
This is the contract of the new ZK token: 0x5A7d6b2F92C77FAD6CCaBd7EE0624E64907Eaf3E
To add material to a possible evaluation of the listing price, we can compare the launch of the ZKsync token to that of tokens from other competitors and similar projects, such as Starknet, Optimism, and Arbitrum, taking into account the initial FDV.
If for example ZK will be launched with the same FDV as the STRK token at its launch, each token will have a quotation of 1.25 dollars.
If ZK is launched with the same FDV as the OP token, each token will be worth 0.3 dollars, while if it adopts the FDV of ARB, it will start with a price of 1.07 dollars.
Let’s remember, however, that Matter Labs has obtained VC funding amounting to 458 million dollars, a value significantly higher compared to what was collected by the 3 projects it was compared to, so in a bull scenario the listing of ZK could exceed all market expectations.
