ZK (ZKsync) up 8.43% in the last 24 hours

Gate News Bot Message, November 10th, according to CoinMarketCap data, as of press time, ZK (ZKsync) is priced at $0.06, up 8.43% in the past 24 hours, reaching a high of $0.08 and a low of $0.05. The 24-hour trading volume is $253 million. The current market capitalization is approximately $545 million, an increase of about $42.3 million from yesterday.

Recent important news about ZK:

1️⃣ Major Update Proposal for ZK Token Economic Model
ZKsync founder Alex proposed a significant update to the ZK token economic model. The core mechanism is to use all network-generated revenue for buybacks and token burns. This move means that ZK tokens will not only serve governance purposes but will also have a real value capture function, potentially significantly enhancing ZK’s value proposition.

2️⃣ Community Approves ZK Staking Reward Program
The ZKsync community approved a 6-month ZK token staking reward program. The total reward cap is 37.5 million ZK (approximately $1.9 million), with participants able to earn up to a 10% annualized return. The program will launch in December 2025, divided into two seasons, distributing 10 million ZK and 25 million ZK as rewards respectively. This plan is expected to increase token holder participation and improve ZK token liquidity.

3️⃣ ZK Contract Holdings Reach Record High
The total ZK contract holdings across the network have surpassed 2 billion tokens, with a market value exceeding $100 million, setting a new all-time high. In the past 24 hours, holdings increased by 453.92%, indicating rapidly growing market interest and demand for ZK. This significant growth reflects increased investor confidence in ZK technology and is one of the key factors driving ZK’s price increase.

From a technical perspective, ZK’s price remains on an upward trend after a strong rally. Considering the substantial expansion of the contract market and the new token economic model proposal, market participants remain optimistic about ZK’s long-term prospects. However, investors should remain cautious of potential short-term price volatility.

This message is not investment advice; please be aware of market risks.