Breaking Crypto News – What Percentage of ZK Airdrop Wallets Have Sold Everything?
Breaking Crypto News – The price of ZK has dropped 34.5% since its inception since nearly half of the top wallets that got the new zkSync (ZK) token on Monday have already sold all of their allotment in the airdrop. Nearly 41% of tracked addresses sold their full airdrop, while 29.2% sold at least some of their tokens, according to data from blockchain analytics company Nansen.
Between the two cohorts, almost 486 million ZK were sold. The majority of receiving wallets—just over 30%—have kept their ZK tokens. The information only included the “top 10,000 addresses” that were given ZK tokens; that is, just about 1.4% of the 695,232 wallets that zkSync claimed were qualified for last week’s 3.7 billion ZK token airdrop.
zkSync Criticized for Anti-Sybil Security Measures
On June 17, the nonprofit zkSync Association said on X that 45% of the tokens had been claimed in less than two hours, with some initial network difficulties being caused by load. As of publication, data compiled by Matter Labs data scientist Landon Gingerich shows that over 491,000 wallets had claimed nearly 75% of airdropped ZK.
The significant sell-off by leading wallets occurred after zkSync defended itself against accusations that its airdrop policies were overly lenient in regard to its anti-Sybil safeguards, which are intended to prevent organizations from using numerous wallets to manipulate airdrops. On June 15, the project revised its document, stating that it had selected a “unique airdrop design” that was intended to reward the greatest number of organic users since it believed that strict Sybil filtering could have mistakenly blacklisted legitimate individuals.
For more up-to-date crypto news, you can follow Crypto Data Space.
Leave a comment