ZK Token Valuation Falls to $3.4 Billion, Down 40% from Launch

ZKsync Era token ZK currently has a market capitalization of around $600 million and a fully diluted valuation of $3.4 billion at press time, down 40 percent from its June 17 launch, according to coinmarketcap. Analysts at The Block note that this is likely due to continued selling pressure from airdrop recipients and overall poor market conditions.The seven-day moving average of active addresses on Zync Era hit an all-time high of nearly 675,000 on the day of the ZK token's launch, but the number of active addresses has halved just three days after the token's launch.