On June 17, ZKsync’s highly anticipated token, ZK, launched with a market capitalization of over $1 billion.

Following a momentary increase within the first few hours of launch, ZK's market capitalization gradually decreased over the following days, likely due to sustained sell pressure from airdrop recipients and poor wider market conditions.

The market capitalization of ZK currently stands at ~$600 million, with a fully diluted valuation of $3.4 billion at the time of writing, a 40% decrease from its valuation at launch.

In the week leading up to the ZK launch, Zsync Era experienced a relatively calm period in terms of new unique addresses on the chain, averaging around 7,000 per day. The ZK token launch day saw this figure skyrocket, however, with the number of new unique addresses …