The Zksync protocol just launched its native token which means we have a chance for a Zksync token price prediction. However, before we dive in, let’s take a look at why this one might be one to watch.
Zksync is the brainchild of Mater Labs, a developer group based in Germany. It is an Ethereum-based layer 2 that offers ZK rollups. A technology designed to boost security, privacy and throughputs while achieving lower costs. Therefore, Zksync plays a relevant role in the blockchain segment and this is why a Zksync token price prediction is worth the attention.
Does a Zksync token price prediction make sense this early?
The Zkysync token (ZK) just launched through an airdrop on Monday, which means it is just starting. In other words, there is no historic data to work with. Therefore, a ZKsync token price prediction at this stage might not be very viable.
Perhaps a reasonable question at this stage is, can ZK hit $1 sometime soon? Well, the token had a Coinmarketcap listing price of $0.27 on Monday, after which it briefly jumped to the day’s high of $0.30. It exchanged hands at $0.22 at the time of writing, likely due to sell pressure from airdrop participants.
This performance and the sell pressure may not necessarily inspire confidence in the ability to attain a $1 in the short term. But, it is only just hitting exchanges which means a strong demand wave could favor the bulls.
ZK currently has a market cap of just over $813 million which is quite impressive for a token that just hit the market. It has a circulating supply of 3.67 billion tokens which is just 17% of its total supply.
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Will token unlocks affect Zksync token price prediction in the short term and long-term?
The good news is that ZK supply will remain stable at least for the next 12 months. This means that ZK investors could capitalize if the next wave of the bull market takes place within the same 12-month duration. This is based on an evaluation of Zksync’s vesting schedule.
Rough seas might be on the horizons for ZK investors beyond the 12-month timeframe. According to the vesting schedule, roughly 33.72 ZK tokens will be unlocked in 2025. If demand fails to match this token inflation, then ZK could be set up for a downward spiral in the second half of 2025 and early 2026.
Does the Zksync token price prediction support accumulation?
The current stage of the crypto market cycle is still bullish despite the recent pullback and diluted investor sentiment. Nevertheless, there is still room for altcoins to bounce back. Especially those linked to major networks.
A strong recovery could deliver a significant upside for the ZK token. The token’s post launch performance offer insights into how things will likely play out. For example, if presale buyers don’t dump the token, it could signify bullish expectations for more upside, which would give them more gains.
Conclusion on Zksync token price prediction
The latest dip in prices has fueled concerns that the 2024-2025 bull market will not be as strong as expected. Most altcoins have underperformed, hence judging by that logic, ZK’s launch might not perfectly timed. On the other hand, the market has not demonstrated key signs of a blow-off top and altcoin season is yet to take place.
There is a significant chance that the next 12 months could be extremely bullish depending on a variety of factors. If that happens, the demand for the Ethereum network could soar once again, giving Zksync a chance to shine. If that happens, then demand for Zksync could soar up until the vesting schedule kicks in. Please keep in mind that this is just a prediction and not financial advice. Therefore, do not take this information as a call to action.
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