NewsBriefs - zkSync sees over 71% of top holders sell after token airdrop

Jun 18, 2:00 PM Crypto Briefing

zkSync sees over 71% of top holders sell after token airdrop

Following the airdrop of zkSync tokens, over 71% of the top 10,000 recipients sold their tokens, either partially or completely, within 30 hours. Nansen's data shows 4,113 addresses liquidated their entire stake, releasing over 347 million ZK tokens into the market. Additionally, 3,033 wallets sold nearly 150 million tokens. In contrast, 28.5% of these addresses chose to retain their tokens, possibly influenced by zkSync's competitive fully diluted value in comparison to other Ethereum layer-2 solutions. Current market metrics suggest potential future price increases, reflecting past patterns observed in similar airdrops.

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