zkSync (ZK) Live Price Overview
The live price of zkSync (ZK) is $0.0453, with a 24-hour trading volume of $78,667. Over the past day, the price has experienced a slight decline of -1.73%, though it has seen a modest weekly gain of +1.34%. With a circulating supply of 7.13 billion ZK tokens, the current market capitalization stands at approximately $321.51 million.
Key Market Data Snapshot
- Current Price: $0.0453
- 24h Trading Volume: $78,667
- Market Cap: $321.51M
- Circulating Supply: 7.13B ZK
- Max Supply: 21B ZK
| Period | Price Change | Change (%) |
|---|---|---|
| Today | -$0.0009 | -1.74% |
| 7 Days | +$0.0005 | +1.12% |
| 30 Days | -$0.0228 | -33.38% |
| 3 Months | -$0.0123 | -21.22% |
zkSync (ZK) to Fiat Currency Conversions
- 1 ZK to USD: $0.0453
- 1 ZK to EUR: €0.0385
- 1 ZK to GBP: £0.0331
- 1 ZK to AUD: $0.0690
- 1 ZK to JPY: ¥6.51
- 1 ZK to CAD: $0.0619
- 1 ZK to KRW: ₩61.57
- 1 ZK to INR: ₹3.88
Understanding the zkSync Project
zkSync is a prominent Layer-2 scaling solution for Ethereum, utilizing zero-knowledge rollup (zk-rollup) technology. Its primary goal is to enhance Ethereum's scalability by processing transactions off-chain and then submitting cryptographic proofs to the mainnet. This approach significantly reduces transaction fees and increases throughput while maintaining the robust security guarantees of the Ethereum blockchain.
The ecosystem supports a wide array of decentralized applications (dApps), including decentralized exchanges (DEXs), lending protocols, and NFT marketplaces, contributing to a vibrant and growing network.
Key Factors Influencing zkSync (ZK) Price
The value of the ZK token is influenced by a complex interplay of several market and project-specific factors.
1. Market Demand and Supply: The fundamental economic principle of supply and demand is a primary driver. Fluctuations in trading activity and token availability directly impact its market value.
2. Utility and Adoption: The token's utility within its ecosystem for purposes like transaction fees, staking, and governance can create sustained demand. Wider adoption of the zkSync platform by users and developers is a critical factor for long-term value.
3. Market Sentiment: Broader trends in the cryptocurrency market and news specific to zkSync, such as partnerships or technological milestones, can cause significant price movements.
4. Technological Developments: Upgrades to the network's core technology, enhancing its speed, security, or features, can attract positive attention and investment.
5. Ecosystem Growth: The expansion of projects and total value locked (TVL) within the zkSync ecosystem demonstrates network health and can positively influence the token's price.
For those looking to dive deeper into the mechanics of blockchain scaling, you can explore more strategies for understanding Layer-2 technologies.
Is zkSync (ZK) a Good Investment?
Evaluating zkSync as a potential investment requires considering its technological advantages and market position.
- Technological Edge: By leveraging zk-rollups, it offers substantially lower transaction fees and higher speeds compared to the Ethereum mainnet, addressing key pain points for users.
- Security: It inherits Ethereum's security model, ensuring that assets are protected by the mainnet's robust consensus mechanism.
- Growing Ecosystem: A thriving and expanding suite of dApps indicates strong developer support and user adoption, which is vital for the network's long-term success.
- Market Competition: As a Layer-2 solution, it operates in a competitive space. Its ability to capture and retain market share is crucial for its token's performance.
All investments carry inherent risk, and it is essential to conduct thorough personal research and consider your risk tolerance before making any financial decisions.
How to Securely Store Your ZK Tokens
Securing your ZK tokens is paramount. There are several storage options available, each with its own trade-offs between convenience and security.
- Self-Custody Wallets: These give you full control over your private keys. Options include browser-based extension wallets, mobile wallets, and desktop applications.
- Hardware Wallets: Considered the gold standard for security, these physical devices store private keys offline, making them immune to online hacking attempts.
- Custodial Wallets: Provided by some exchanges, these manage your private keys for you, offering convenience but less direct control over your assets.
Always ensure you download wallets from their official websites and never share your seed phrase or private keys with anyone.
Frequently Asked Questions
What is the all-time high price of zkSync (ZK)?
The all-time high price for ZK was $0.3285. The current price is approximately 86.21% below this peak value.
What is the all-time low price of zkSync (ZK)?
ZK reached its all-time low of $0.0368. The current price is about 22.78% higher than this lowest point.
How do I convert zkSync (ZK) to cash?
The process typically involves selling your ZK tokens on a cryptocurrency exchange for a stablecoin like USDT. This stablecoin can then be sold for your local fiat currency through the exchange's peer-to-peer (P2P) platform or a supported direct crypto-to-fiat trading pair, allowing you to withdraw the funds to your bank account.
What is the circulating supply of ZK?
The current circulating supply of ZK tokens is 7.13 billion. The protocol has a defined maximum supply cap of 21 billion tokens.
How does zkSync's technology benefit users?
zkSync's zk-rollup technology bundles numerous transactions off-chain and submits a single cryptographic proof to Ethereum. This process drastically reduces the gas fees for users and increases the network's transaction capacity, all while maintaining a high level of security.
Where can I find reliable information about the zkSync ecosystem?
The best sources of information are the project's official documentation and block explorer. For real-time analytics and data, a number of independent blockchain analytics platforms provide valuable insights into network activity and health. To stay updated on all these aspects, you can view real-time tools and resources.