ZKsync Price Skyrockets As Coinbase Rolls Out Trading Support

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As a seasoned crypto investor with over a decade of experience navigating the digital asset landscape, I’ve learned to keep my eyes peeled for significant developments that could potentially yield lucrative returns. The recent announcement by Coinbase to roll out trading support for ZKsync is one such development that has piqued my interest.

The digital currency trading service, Coinbase, has revealed they will include ZKsync (ZK) in their system, causing ZKsync’s value to reach a 30-day peak due to optimistic investors challenging the ongoing bearish market trend.

As a crypto investor, I’m thrilled to learn that I can now transfer my ZKsync assets on both Coinbase and Coinbase Exchange, provided that trading is allowed in my region. However, a word of caution: the exchange strongly advises against sending this asset over other networks. Such actions could potentially lead to the unfortunate loss of my hard-earned funds.

Coinbase Rolls Out Trading Support for ZKsync

Based on a recent announcement from the cryptocurrency exchange, trading for ZKsync is anticipated to start no later than 9 AM Pacific Time on September 25, 2024, assuming liquidity requirements are fulfilled. The initial trading will be rolled out in stages, focusing on the ZK-USD pairing first.

In some areas, Coinbase notes that trading for ZKsync may not be available because of local regulations governing compliance. However, this listing could increase the exposure and use of ZKsync, a cryptocurrency that’s been growing in popularity within the blockchain community.

Coinbase will integrate ZKsync (ZK) into their system, which operates on the ZKsync network. To avoid losing your assets, ensure you don’t transfer them through other networks. Transactions for this asset can now be made via both @Coinbase and @CoinbaseExch in regions where trading is supported.
— Coinbase Assets (@CoinbaseAssets) September 24, 2024

By integrating ZKsync, Coinbase is following its strategy to expand its collection of supported assets, responding to the growing need for Layer 2 scaling solutions that offer faster transaction times and lower costs than traditional Layer 1 blockchains. Additionally, Coinbase has announced intentions to list several other digital assets on its platforms, such as CoW Protocol (COW) on Ethereum, Moonwell (WELL) on Base, Catizen (CATI) perpetual futures on Coinbase International Exchange, and Zetachain (ZETA) trading.

Treasure DAO Migrates to ZKsync for Enhanced Performance

Simultaneously with the listing on the exchange, Treasure DAO – a decentralized gaming network – has declared its transition from Arbitrum to ZKsync. This decision was made based on an “overpowering” consensus within the DAO community, as 99.5% of participants supported this shift.

It’s official.
Treasure will be bringing the decentralized game console to the Elastic Chain! (∎, )!
With an astonishing 99.5% approval, the community has decisively chosen to initiate the Treasure L2 within the ZKsync network.
Here’s what this means
— Treasure (@Treasure_DAO) September 23, 2024

The migration is part of Treasure’s strategy to leverage ZKsync’s advanced ZK Stack technology, which promises to deliver improved scalability, security, and support for blockchain-based games.

At first, Treasure DAO planned to leverage Arbitrum Orbit for scalability purposes, but eventually discovered that ZKsync’s architecture was more aligned with its long-term ambitions. This migration serves multiple purposes: it enhances the DAO’s performance and interoperability, and makes its platform more enticing to an increasing number of blockchain games, as they continue to proliferate.

ZKsync Price Jumps To 30-Day High

After the announcement, the price of ZKsync bounced back from its daily low of $0.1215 to reach a monthly peak of $0.1343, but then encountered resistance.

As I analyze the current market situation, it’s evident that ZKsync’s price is maintaining its upward trend as I speak. At this moment, the trading price stands at $0.1333, representing a robust 6.50% increase over the past 24 hours and an impressive 20% growth in the last week.

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2024-09-25 03:48