The post ZKsync’s ZK Token Officially Launches Amid Network Load, RPC Issues appeared on BitcoinEthereumNews.com.

ZKsync’s ZK token officially launched on multiple exchanges on June 17, with the token witnessing considerable price fluctuations as ZKsync dealt with network issues.  The ZK token is currently trading around the $0.22 mark and has a market capitalization of roughly $971 million.  ZK Token Is Live The ZK token launched on several exchanges, including Binance, Gate.io, Bybit, and Kucoin. Its value reached as high as $0.30 but has since dropped considerably. According to data from CoinGecko, trading volume for the ZK token has reached $855 million since launch. ZKsync’s token distribution program will run from June 17 to July 16 and will distribute around 10.5 million ZK tokens to eligible users.  However, the ZKsync community has flagged concerns about the methodology used to filter Sybil farms. ZKsync has promised to address these concerns and ensure a fair and transparent distribution process for the community.  ZKsync Facing Network Load, RPC Issues Before the launch of the ZK token, ZKsync took to X to notify users that its network was experiencing high network load and degraded performance in some of its remote procedure call (RPC) services. RPCs can communicate between nodes and also perform several network operations, such as querying data and sending transactions. The team stated they were working on increasing RPC capacity and would update the community about any developments.  “The network is currently under high load. Some RPC services may experience degraded performance. Teams are working to increase RPC capacities. Stay tuned for updates.” Uptick In Impersonators  Following ZKsync’s announcement that over 695,000 wallets were eligible for the ZK token airdrop, there has been a significant uptick in malicious dApps (decentralized applications) impersonating ZKsync. This was highlighted by several handles on X, including Blockaid, which posted, “Are you excited about @zksync’s $ZK airdrop? So are the scammers! Blockaid…

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Filed under: News - @ June 18, 2024 7:26 pm