The long-awaited zkSync $ZK token was finally launched on exchanges on June 17th. According to CoinMarketCap, this token has a total supply of 21 billion ZK with a market capitalization of around $971 million. After launching on major platforms such as Binance, Bybit, Gate.io, and KuCoin, the price of ZK briefly reached $0.30 before dropping to around $0.25.

Network Challenges and RPC Issues

Along with the token launch, zkSync announced on the X platform that their network was experiencing high load, causing performance degradation on some remote procedure call (RPC) services. RPC is important for communication between nodes and carrying out network operations such as sending transactions and retrieving data. The zkSync team says they are working hard to increase RPC capacity and ask users to stay tuned for future updates.

Scam Surge

With over 695,000 wallets eligible for the latest ZK token airdrop, there has been a significant surge in malicious decentralized applications (DApps) masquerading as zkSync. Ido Ben-Natan, CEO of Web3 security platform Blockaid, revealed that fraudsters use "drainer SDKs" to avoid detection and reach users. These fraudsters utilize the comments section on Twitter (X) to spread links to malicious DApps, often using verified Twitter accounts to increase their credibility.

Community Concerns about Airdrop

The zkSync token distribution program, which runs from June 17 to July 16, aims to distribute 10.5 million ZK tokens to eligible users. However, the community raised concerns regarding the methods used to screen Sybil farms. The zkSync team promises to address these concerns to ensure a fair and transparent distribution process for all community members.

With all these challenges, the launch of the ZK token remains a major highlight in the crypto world, demonstrating the rapidly changing market dynamics and importance of security in the blockchain ecosystem.