Bittime - In the latest innovative move, Bitget introduced a new staking opportunity for ZK coins, capitalizing on the growing popularity of the zkSync network. Users can now stake their ZK coins on the PoolX platform to earn rewards.
Currently, the staking pool has hosted 413,700 ZK coins, with a maximum staking limit of 4,137,000 ZK coins. The staking period runs from June 18 to June 28, offering hourly rewards based on the number of coins staked by each participant.
This approach ensures a fair distribution of rewards proportionally to each user's stake, with the goal of encouraging active participation in the zkSync ecosystem.
ZK Coin Airdrop Impact and Later Sales
After the ZK coin airdrop conducted by zkSync recently, there has been significant market activity. Reports show that 41% of recipients immediately sold their tokens on day one, injecting around $500 million of ZK coins into circulation.
This influx led to a temporary drop in the token price to around $0.020. This massive sale involved more than 4,160 wallet addresses, with 30% of the main recipients choosing to sell a portion of their tokens, while nearly 29% chose to keep their allocation.
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zkSync's Ambitious Token Distribution Strategy
zkSync has designed an ambitious token distribution plan, with the intention of distributing 3.67 billion tokens to 695,232 addresses.
Interestingly, despite this large-scale distribution, the initial batch mostly benefited various recipients, with the top 10,000 wallets holding only a fraction of the total tokens.
This distribution was made ahead of the listing of the ZKsync (ZK) token on Binance, which started trading with pairs such as ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY.
Conclusion
The introduction of ZK coin staking on Bitget's proprietary PoolX platform and the post-airdrop market dynamics show significant developments in the zkSync ecosystem.
As zkSync continues its token distribution and integration efforts, these initiatives are poised to shape the utility and existence of the token market in the ever-evolving decentralized finance (DeFi) landscape.
With great potential in speeding up transactions and reducing gas fees on the Ethereum network, zkSync is on a promising path to becoming a major solution in the crypto world.
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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.
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