According to data from blockchain analytics firm Nansen, nearly half of the top 10,000 wallets that received the most airdrops of ZKSync’s native token, ZK, have sold off their entire allocation.
The Ethereum Layer 2 network ZKSync opened users to apply for the airdrop of its native token ZK yesterday (17th) afternoon. Data shows that among the "top 10,000 addresses" tracked by Nansen that received ZK token airdrops, 40.9% sold all the airdrop tokens, and 29.8% sold at least part of them. The total ZK sold by these 7,069 addresses The amount is about 490 million, accounting for about 0.13% of the number of coins (3.675 billion) that ZKSync announced last week that it would airdrop to users.
Source: Nansen
According to data compiled by Landon Gingerich, a data scientist at ZKSync developer Matter Labs, nearly 75% of the addresses eligible for the ZK token airdrop have completed their claims at the time of writing, and 77.78% of the airdrop tokens have been claimed.
Source: Dune
The total supply of ZK tokens is 21 billion, with a fully diluted value (FDV) of over $4.6 billion. The current supply of ZK on the market accounts for only 17.5% of its total supply, with a market capitalization of approximately $800 million. According to data from CoinGecko, the ZK token was trading at around $0.28 shortly after listing yesterday, but has since experienced a drop of more than 30%. As of press time, the ZK price has rebounded to around $0.22.
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This article Nansen Data: More than 40% of the Top 10,000 Addresses that Received the Most ZK Token Airdrops Have All Sold Off appeared first on Zombit.