3 months ago
21 ARTICLE AD
Investors weigh ZK token's value as sell-off follows airdrop.
The airdrop for zkSync native tokens happened 30 hours ago and over 71% of the top 10,000 addresses sold their tokens completely or partially, according to a dashboard by on-chain data firm Nansen.
Image: NansenThe dashboard calls the sellers by the slang “jeeters,” and 4,113 addresses jeeted their entire holdings in the last 30 hours, totaling over 347 million ZK tokens. The partial jeeters sold significantly less, as 3,033 wallets dumped nearly 150 million tokens on the market.
The number of the top 10,000 addresses by rewards received that chose to believe in the token equals 2,854, which is 28.5% of all users that got ZK.
Some investors shared on X that it made sense to hold ZK, as its fully diluted value (FDV) came out below fellow Ethereum layer-2 blockchains, such as Starknet. FDV is a metric used to measure if a token is under or overvalued based on its peers. At the time of writing, ZK price sits at $0.20, and its fully diluted value is at $4.2 billion.
According to a report by data aggregator CoinGecko, ZK holders have a substantial chance to see price growth in the next few days, as 46% of the 50 biggest airdrops took two weeks to reach their all-time highs. Of the 23 tokens in this group, 16 of them took two to 14 days to reach their price peak.
Although this historical pattern doesn’t guarantee profits, some investors might be willing to wait and see how the ZK token will repeat history in the next 13 days.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
