According to Nansen, over 40% of the top 10,000 wallet addresses in ZKSync’s recent airdrop quickly sold off their received tokens right after ZK was listed.
According to statistics from Nansen, 41.1% of the top 10,000 wallet addresses that received the largest ZK airdrop from ZKSync quickly sold all their tokens. Additionally, 30.1% of the addresses sold at least some tokens, while only 28.83% of the remaining wallets decided to hold onto their ZK tokens.
The total amount of ZK tokens sold from both groups exceeded 486 million ZK (approximately $150 million USD). Following the airdrop, a majority of wallets quickly sold off their tokens due to what were perceived as unreasonable criteria by ZKSync aimed at preventing sybil issues. The community had diverse opinions after ZKSync’s airdrop announcement, with criticism that ZKSync prioritized “insiders” over genuine users.
With ZKSync’s “unique airdrop design,” one user received over 3 million ZK across 85 wallets in this recent airdrop, as reported on the X platform by Lookonchain.
Despite the controversies, ZKSync’s airdrop remains one of the largest to date, with tokens distributed valued at up to $907 million USD.
After being listed on Binance, ZK reached $0.2950 USD. Shortly thereafter, the price plummeted over 38% due to selling pressure from airdrop recipients and market adjustments on the morning of June 18. Currently, ZK is trading at $0.212 USD.