ZK Token valuation has dropped to $3.4 billion, a 40% fall from its launch.

Jinse Finance reported that the market capitalization of ZK, the token of ZKsync Era, is currently about $600 million, with a fully diluted valuation of $3.4 billion as of the time of publication, a decrease of 40% compared to the valuation when it was launched on June 17th. The Block analyst pointed out that this may be due to the continuous selling pressure of the airdrop recipients and the overall poor market conditions. The 7-day moving average of active addresses on Zync Era reached a record high of nearly 675,000 on the day of ZK token release, but just three days after the token release, the number of active addresses decreased by half.