zkSync Token Launch Spurs Initial Surge, Faces Subsequent Decline

zkSync Token Launch Spurs Initial Surge, Faces Subsequent Decline
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ZK’s fully diluted value was $3.5B, which is around 40% lower than its valuation at launch.
On the day of the ZK token launch, there were more than 1.8 million transactions recorded.
With a market valuation of over $1 billion, zkSync’s much-anticipated token debuted on June 17. Despite a brief surge in the first launch hours, ZK’s market value progressively declined in the days that followed, most likely as a result of persistent sell pressure from airdrop participants and generally unfavourable market circumstances.
At the time of writing, ZK’s fully diluted value was $3.5 billion, which is around 40% lower than its valuation at launch; the market capitalization is at $613 million as per data from CMC.
Enthusiasm Fading 
New unique addresses on the zkSync Era chain averaged around 7,000 per day in the week preceding up to the ZK debut, which was a rather tranquil time. This amount, however, exploded on June 17, the day of the ZK token launch, when the quantity of

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