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zkSync $ZK (Deep research) ZK is a project that develops zk-Rollup technology to scale Ethereum. zkSync Era allows transactions to be performed on the user side and then validated on the Ethereum blockchain using zk-SNARKs. This significantly reduces gas costs and increases network capacity. zkSync supports EVM, making it compatible with existing Ethereum tools and infrastructure. This means developers can easily port their applications to zkSync Era without making significant code changes. The zk-SNARKs cryptography provides a high level of privacy as it validates transactions without revealing transaction details. This makes zkSync Era attractive for those who want to maintain the confidentiality of their transactions. Investors zkSync Era, developed by Matter Labs, has attracted a significant amount of investment from various investors. Among them: 1. Andreessen Horowitz (a16z) - lead investor in the Series B and Series C funding rounds. 2. Blockchain Capital - co-lead investor in the Series C round. 3. Dragonfly - participated in the Series B and Series C rounds. 4. 1kx - investor in Series B rounds. 5. Placeholder - investor in the Series B rounds. In total, Matter Labs has raised $458 million in investment, including $200 million to develop the zkSync Era ecosystem. Investors believe that zkSync Era has great potential to scale Ethereum using zk-Rollup technology. A general list of investors is provided below Ecosystem The zkSync ecosystem includes several well-known projects that utilize zkSync's Layer 2 scaling solution to improve transaction efficiency and financial inclusion. Here are some of the projects you mentioned: SyncSwap is a decentralized exchange (DEX) that runs exclusively on zkSync Era. It offers a convenient, cost-effective and secure DeFi experience based on zero-knowledge technology. SyncSwap recently launched its Paymaster on the zkSync Era mainnet, allowing users to pay for gasoline using a variety of tokens. Tevaera is a multi-genre gaming platform built on zkSync Era and powered by the ZK stack. It aims to create a comprehensive gaming ecosystem that allows users to create and play games on the zkSync network. Zeroland is a decentralized financial platform (DeFi) that offers a variety of services including crop growth, liquidity provisioning, and more. It utilizes zkSync's tier 2 scaling solution to provide faster and more accessible transactions. Koi Finance is a DeFi platform that integrates with zkSync to provide seamless trade execution and more affordable transaction options. By integrating with zkSync, it is focused on maintaining high and sustainable returns. ZKSwap is a decentralized exchange (DEX) powered by zkSync that offers fast and secure transactions with low fees. It has a user-friendly interface and supports various trading pairs. zkMarkets: zkMarkets is a proprietary NFT trading platform on zkSync Era that allows users to buy, sell and trade NFTs on the zkSync network. It provides a secure and efficient platform for NFT enthusiasts. These projects are just a few examples of zkSync's growing ecosystem, which aims to provide innovative DeFi solutions and improve the overall user experience in the decentralized financial space. Tokenomics Total supply: 21 billion Token address: 0x5A7d6b2F92C77FAD6CCaBd7EE0624E64907Eaf3E Hosted on zkSync Era network and non-transferrable to Ethereum mainnet Allocations: Team: 16.1% Investors: 17.2% Airdrop: 17.5% Ecosystem Initiatives: 19.9% Token Assembly: 29.3% Airdrop Distribution: zkSync direct users: 89% Projects native to zkSync: 5.8% Onchain communities: 2.8% Developers: 2.4% Total of 695,232 whitelisted wallets NYSE:ZK tokens to become claimable starting next week, and ending in January 2025. Notes: Total of 33.3% allocated to ‘insiders’ is fairly low in light of other, recent high-profile airdrops. Said insiders also have a 4-year release schedule with a 1-year cliff - again, much better than other major token launches in 2024 (ends in June 2028!) Small unlock after 1-year cliff for insiders in June 2025 of just 3.66%. Airdrop Recently, zkSync held a significant airdrop of its ZK token, distributing 17.5% of the total to early users and contributors. This event marked an important milestone in the crypto community, rewarding those who have actively participated in the zkSync ecosystem. The goal of airdrop is to decentralize network management and foster a strong and active user base. zkSync's airdrop strategy was designed to reward users who were active on the platform through March 24, 2024. Users had to meet certain activity thresholds on zkSync Era and zkSync Lite. The giveaway was divided into two waves. In the first wave, which started on June 17, 2024, tokens were given to zkSync Era users, zk Quest participants, security researchers, moderators, GitHub developers, $DEGEN and $BONSAI etherium recipients, Crypto The Game participants, and NFT Pudgy Penguin and Milady Maker holders. The second wave, which kicked off on June 24, extended to the native zkSync project, external contributors, and the Protocol Guild. The distribution was not without controversy. Some users have criticized the distribution criteria, claiming that they favor certain groups over others. Despite these criticisms, the airdrop was generally well-received, with many users expressing excitement about the opportunity to participate in the zkSync ecosystem. Team The zkSync team, led by CEO Alex Gluchowski, is a group of professionals dedicated to advancing blockchain technology through their innovative solutions. Alongside Alex, the team includes key members such as Zoe Gadsden, Anthony Rose and Geoffrey Thompson, each contributing to the project. Alex Gluchowski, CEO and co-founder, has a strong background in engineering and a passion for blockchain technology. His leadership and vision guide the team to build scalable and efficient solutions for the Ethereum ecosystem. Zoe Gadsden serves as Chief Operating Officer (COO), overseeing the operational aspects of zkSync. Through her experience and strategic planning, she ensures the smooth execution of project goals. Anthony Rose, Chief Technology Officer (CTO), is responsible for technical development and innovation at zkSync. His expertise in engineering and blockchain technology helps drive the project forward. Geoffrey Thompson, General Counsel, provides legal guidance and regulatory compliance. His legal and blockchain regulatory experience helps zkSync navigate the complex legal landscape. Together, the zkSync team is committed to creating a more scalable and efficient Ethereum ecosystem through their innovative solutions. Their dedication and expertise contribute to the project's success and impact on the blockchain industry. GitHub zkSync primarily uses Rust and Solidity as programming languages. This is indicated by mentions of using Rust and Solidity to develop smart contracts and interactions in the zkSync ecosystem. In terms of activity on GitHub, the zkSync project has significant activity on GitHub, with several repositories associated with the project. For example, the zkSync Era repository has a large number of contributors and commits, and the number of forks and stars is very high! This indicates the demand for the technology and the good evaluation of the product from other developers. In addition, there is a growing trend of developers releasing updates and actively developing new projects! It is worth paying attention to the number of commits on the whole way of ZK's existence. Audit The zkSync project has undergone several audits to ensure the security and reliability of its protocol. These audits are necessary to identify vulnerabilities and ensure that any bugs or security issues are fixed prior to deployment. OpenZeppelin conducted one notable audit as part of an ongoing security collaboration with Matter Labs. The audit took four weeks and focused on assessing the security of zkSync Layer 1, a critical component of the zkSync 2.0 project. Another audit was conducted by Code4rena, which offered a competitive audit with a total prize of $250,000. This audit focused on the zkSync protocol and included a repository with comprehensive documentation. Other reputable companies also audited the zkSync project, such as CertiK, which audited the SnarkLaunch project, and Halborn, which audited SyncSwap v2 pools. These audits play an important role in ensuring the security and reliability of the zkSync project. By identifying and remediating vulnerabilities, they help protect the project and its users from potential threats. TVL The total blockchain value (TVL) of zkSync has steadily increased over the past few months. According to L2BEAT, as of June 27, 2024, zkSync's TVL is $1.24 billion. This is a significant increase from earlier this year, when the TVL was around $500 million. zkSync's TVL is spread across several projects, the most notable of which are SyncSwap with a TVL of $55.94 million and ZeroLend with a TVL of $32.71 million. Other projects with significant TVL include zkSwap with a TVL of $27.08 million, KOI Finance, Holdstation, Velocore, and others. The growth of zkSync's TVL is attributed to several factors, including the growing popularity of decentralized finance (DeFi) and the increasing adoption of zkSync technology. zkSync is a second-level scaling solution for Ethereum that utilizes zero-knowledge proofs to enable faster and cheaper transactions. This makes it an attractive option for DeFi projects looking to scale their operations. Overall, zkSync's TVL growth is a positive sign for the project and the entire DeFi ecosystem. As more projects and users adopt zkSync, we can expect to see further growth in TVL and a further increase in the number of Tier 2 scaling solutions. Conclusion The zkSync ecosystem is growing rapidly, with various DeFi projects such as Mute being built on the zkSync Era mynet. The project has attracted significant attention and support from investors and industry players, with a total blockchain value (TVL) of over $138 million as of June 19, 2024. The zkSync development team, Matter Labs, is actively working to expand the zkSync ecosystem and plans to release ZK-Stack. This codebase will allow developers to create their own rollovers. Overall, zkSync is a promising Tier 2 scaling solution that aims to address the scalability and cost issues facing Ethereum, making it an attractive option for developers and users alike. Still, it's worth considering the large capitalization and further major unlocks that will be an “extra burden” to pump the price. When I add this project to my portfolio, you will see Best regards EXCAVO
BINANCE:ZKUSDLong
by EXCAVO
3
ZKUSDT.4HAnalyzing the ZKUSDT chart, I observe several critical elements from a technical standpoint: Support and Resistance Levels: Support Levels (S1 and S2): S1 at $0.1365 is crucial as it appears to be the recent low where price rebounded. A breakdown below this could lead to a test of S2 at $0.1256, indicating a more significant bearish sentiment. Resistance Levels (R1 and R2): R1 at $0.1741 and R2 at $0.1929 are key barriers for bullish momentum. Overcoming R1 could pave the way for a test of R2, indicative of strong buyer presence. Technical Indicators: Relative Strength Index (RSI): The RSI at around 53.51 shows a neutral stance, which suggests that there is neither significant buying nor selling pressure at the moment. It provides room for the price to move in either direction. Moving Average Convergence Divergence (MACD): The MACD line is very close to the signal line but slightly below, indicating a weak bearish momentum. This near-zero histogram suggests a lack of strong directional momentum, supporting the RSI's neutral signal. Given this setup, my perspective as a trader is to watch for potential entry points near the support levels if signs of stabilization and bullish reversal appear. If the price holds or rebounds off S1, it could offer a strategic long position with an initial target at R1. Conversely, if the price breaks below S1, it might signal a potential short opportunity towards S2, but caution is advised given the close proximity of these levels and the overall neutral momentum indicated by the RSI and MACD. Traders should remain alert for any sudden shifts in volume or news that might impact market sentiment and adjust their strategies accordingly. Monitoring the interaction between the MACD and signal lines will also be crucial for catching early signs of a momentum shift. As always, setting appropriate stop-loss levels to manage risk effectively is vital.
Long
by MarsSignals
zkSync Entry price: $0.1744(ZK/USDT) (June 30, 2024) (#zkSync #Spot) Layer Zero has started to grow, and ZK is also showing growth. This formation resembles what happened with Notcoin. zkSync (ZK) — zkSync is a Layer-2 protocol that scales Ethereum with cutting-edge ZK tech. Our mission is not only to merely increase Ethereum's throughput, but to fully preserve its foundational values – freedom, self-sovereignty, decentralization – at scale. 🕵️ Investors (Tier 1,2): Union Square Ventures, a16z, 1kx, Variant Fund, Blockchain Capital, Lightspeed Venture Partners, Dragonfly Capital, Coinbase Ventures, Ethereum Foundation. dropstab.com cryptorank.io 🟢 Entry price: $0.1744 🟢 Take Profit: $0.4700 🔴 Stop Loss: $0.1479 • Spot Market without leverage. • Trade risk set at 50% of the deposit.
Long
by UnknownUnicorn285026
1
Chinese Tesla Rival Zeekr Soars 35% On NYSE Debut, Hits $6.8B Shares of ZEEKR Intelligent Technology Holding Limited ( NYSE:ZK ), a global electric mobility technology brand of Chinese automaker Geely Automobile Holding, rose by nearly 35% on the New York Stock Exchange on Friday, following its initial public offering (IPO). The company offered 21 million American Depositary Shares (ADS) at $21 per share. ZEEKR's stock closed at $28.26, giving it a fully diluted valuation of $6.8 billion. This successful debut comes at a time when other US EV makers, such as Tesla and Rivian, have seen a decline in their stock prices. Geely Holding's Chief Executive, Daniel Li, expressed optimism about ZEEKR's future prospects, stating that there are significant opportunities in the global new energy vehicle market and that ZEEKR is positioned as a premium electric mobility brand that supports Geely's electric transformation. Geely Holding also owns Volvo Cars and Lotus Cars. ZEEKR ( NYSE:ZK ) began delivering vehicles in October 2021 and has delivered more than 240,000 vehicles to date. The company plans to expand its market to Europe, the Middle East, and other Asian markets. In 2023, the company reported a total revenue of 51.67 billion yuan ($7.15 billion), but also recorded a net loss of 8.26 billion yuan. Overall, ZEEKR's successful debut on the New York Stock Exchange signals promising growth prospects for the company and highlights the growth potential of the global electric mobility market.
NYSE:ZKLong
by DEXWireNews
Wormhole Set to Use AMD Chips for Scaling 'Light Client' ProofsInteroperability platform Wormhole will leverage Advanced Micro Devices' ( NASDAQ:AMD ) enterprise-grade FPGA hardware accelerator chips for scaling cross-chain communication. The project will make use of AMD’s Alveo U55C and U250 adaptable accelerator cards to enhance capacity for secure cross-chain messages using zero-knowledge proofs (ZKPs). As a bridge solution connecting over 30 blockchains, Wormhole has embraced the integration of zero-knowledge proofs into the platform. It is developing “light client” implementations for secure transfers across various chains, using ZKPs. The goal is to create secure “corridors” between blockchains for messaging. Moreover, this necessitates substantial computing power for the generation and verification of proofs across networks. That’s where the Advanced Micro Devices ( NASDAQ:AMD ) chips come into the picture. These FPGA chips are widely used for compute-heavy tasks like training machine learning models. Wormhole is optimizing its platform for AMD chips. "Advanced Micro Devices ( NASDAQ:AMD ) plays a critical role in this effort by providing enterprise-grade FPGA and GPU hardware and lending deep hardware expertise to Wormhole ZK engineers to ensure efficiency and speed,” said Dan Reecer, co-founder and chief operating officer at Wormhole Foundation. Advanced Micro Devices ( NASDAQ:AMD ) contribution to the project supersedes hardware provision — it will also share its expertise in hardware acceleration to improve the scalability of applications developed within the Wormhole ecosystem. Zero Knowledge-Based Light Clients In the coming months, organizations contributing to Wormhole will start rolling out mainnet deployments of various zero-knowledge (ZK) light clients. Just last week, Wormhole revealed a collaboration with Succinct Labs, to enhance the development and performance of an Ethereum-based ZK light client. Wormhole’s plan is to create secure communication channels across major blockchains, including Ethereum, Near, Solana, Aptos, Sui, and Cosmos. Scaling concerning proof generation and verification in the light clients will be facilitated through Advanced Micro Devices ( NASDAQ:AMD ). Wormhole’s core contributors emphasize the critical importance of its product security. This stance stems from an incident in February 2022, when a security breach facilitated by a signature verification flaw in the Wormhole network on Solana led to the theft of over $320 million in $ETH. Fortunately, the compromised funds were later recovered. According to the contributors, ZK-based light clients will significantly contribute to improving the project’s security and decentralization.
NASDAQ:AMD
by DEXWireNews
ETH TO BREAK THE $2K MARK BEFORE RETRACEMENT!Good day my fellow crypto traders, HODlers, speculators and critics! Before I get into the technical side of things I would like to mention to those who are not aware of the ZKSync release which is a huge milestone in the ZK-rollup space. In laymen's terms ZKSync is an update that offers low gas and fast transactions, without compromising on security. The ZKSync era is also here to make the Ethereum network more decentralized, through making it possible for retail traders to operate nodes on the network as the GPU requirements have dropped dramatically to 8GB. This will help prevent large institutions running nodes to centralize the the network and instead give everyone the ability to run their nodes with less processing power. Now that, that is out the way here is my explanation for my prediction on the market structure of ETH in both the short and long term. Short term bullish flag formation (yellow): We are currently channeling a bullish flag fomration within a bearish flag formation. To focus on the bullish flag formation, the price prediction before a retracement is due, is roughly $2400, however, this will not happen over night per say as we have a few levels of resistance we have to cross before this is possible, first one being the $2k and roughly $2.1 marks. Elliot wave indicator 1-5: In order to be more confident in the potential retracement out of the bearish flag formation to the predicted levels of $1.4k, the Elliot wave formation must be completed which would mean the price reaching $2.4k, or the price would bounce off the $2.1k mark resulting in a double top before the price begins to move down in the days/weeks to come. These low prices will most probably only be found nearing the end of the year, into early 2024, before the bull market begins in full swing. Bearish flag formation (white): This price prediction in the longer term is highly possible due to the fact that a constant higher high and full swing bull market structure is a bit premature at this time, regardless of the narrative being shifted into a bullish point of view. It would not be healthy if the market continues rapidly to the up side and would most definitely result in an over inflated price, which in return would result in a major retracement offsetting the strengthening of much needed support and resistance levels for future price action. Please be aware that this article in no shape or form is direct financial or trading advice and should only be used as a metric to add extra confluence to your already existing analysis and do-diligence on this specific topic. Be safe out there and trade responsibly, even if the market is looking unstoppable, ESPECIALLY if the market is looking unstoppable, this generally is a sign that the market is far from it. Thank you for reading to this point! feel free to like and follow for more daily articles like this. Comment your opinion on this topic, whether you agree or not, every opinion strengthens the case for or against certain changes made to my perspective.
COINBASE:ETHUSDShort
by Crisp_Flow
ZK InternationalZK International manufactures pipes, tools and devices for water. Since 2018, ZK International has been working on a research project to create blockchain systems, which they call xSigma. They are now composing the Blockchain system to focus on the supply chain and the Internet of Things. There are practically no competitors in the blockchain market, industrial systems, and none of them is public. ZKIN has an existing business that makes it feasible to implement technologies such as blockchain. It is important to note that they are not raising money or tokens - they are spending their profits to create technology. On November 23, shares jumped from $ 1.72 to $ 3.05 per share on news that the company plans to fund its subsidiary xSigma to focus on the decentralized financial space, with a focus on decentralized exchanges, stablecoins and lending protocols. "Funded research lab xSigma is now actively working on its ecosystem of products, starting with the DeFi protocol." If we look at the annual reports, the company's revenue is growing from year to year, even in spite of the pandemic for 2020, an increase of 15% is expected compared to 2019. This is a strong company with real customers that just didn't get the attention it deserves. If the company continues to use the markening move and continues to publicly promote its blockchain technology, then the company's shares will grow several times. I suppose at the moment we should take a closer look at two points of entry into the long. Share your opinion in the comments and support the idea with likes. Thank you for your support!
NASDAQ:ZKINLong
by monsRUS