zkSync (ZK) Coin Could Break $2? Here's the Price Prediction!

Bittime - The price of ZK coin from zkSync suddenly increased. As blockchain technology grows in popularity, solutions to improve Ethereum's scalability are popping up. One of the standout innovations is zkSync (ZK), a Layer 2 solution that promises to speed up transactions and reduce gas fees.

Introduced by Matter Labs in 2020, zkSync leverages zero-knowledge rollup technology to process thousands of transactions outside of Ethereum's mainnet without sacrificing security and decentralization. This article will discuss what zkSync is, ZK coin, current price, and ZK price prediction for 2024.

What Is zkSync (ZK)?

zkSync is a Layer 2 solution designed to increase Ethereum's transaction capacity and reduce fees charged to users.

The technology uses zero-knowledge rollups, which allow thousands of transactions to be processed outside of the Ethereum mainchain while still ensuring integrity and security by verifying proof of transactions on the Ethereum blockchain.

In this way, zkSync helps overcome Ethereum's scalability constraints without sacrificing decentralization and security.

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What is ZK Coin?

The ZK coin is the native utility token of the zkSync ecosystem. These tokens play a crucial role in the network by facilitating various functions such as transaction fee payments, staking, and governance.

Users pay transaction fees in the form of ZK tokens, which helps keep network operations running. Additionally, validators can stake ZK tokens to secure the network and participate in consensus.

In addition, ZK token holders can also participate in the governance of the zkSync protocol. They can vote on important proposals and decisions that affect the future development and improvement of the network.

ZK Coin Price Today

As of June 20, 2024, the zkSync (ZK) coin is trading at $0.2186 and is ranked 89th by market cap on CoinMarketCap. There are 3,675,000,000 ZK coins in circulation, with a total market cap of $803,466,638 (Rp12,855,466,208,000).

In the last 24 hours, zkSync price decreased by 2.63%. Meanwhile, in the past week, the price of this coin has decreased by 23.8%, reflecting a significant bearish trend.

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ZK Price Prediction

For 2024, the zkSync price prediction is based on technical analysis and previous market trends. Here is a table of ZK coin price predictions per year:

Conclusion

zkSync (ZK) is an innovative solution that offers increased scalability and cost efficiency for the Ethereum network.

By using zero-knowledge rollup technology, zkSync can reduce gas fees and speed up transactions without sacrificing security and decentralization. The ZK token plays an important role in this ecosystem, both in terms of transaction fees, staking, and governance.

The price of the ZK coin is currently showing a downward trend, but the predictions for 2024 show a significant upside potential. Keeping an eye on technological developments and increasing adoption, zkSync has great potential to become a key solution in the Ethereum ecosystem.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have a sufficient balance by depositing a certain amount of funds into the wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can only buy crypto assets on the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational and does not constitute an offer or solicitation to sell or buy any crypto assets. Crypto asset trading is a high-risk activity. The price of crypto assets is volatile, where prices can change significantly over time and Bittime is not responsible for changes in fluctuations in the exchange rate of crypto assets.