ZKsync Soars to 30-Day High After Coinbase Listing and Treasure DAO Migration

• Crypto enthusiasts are seeing renewed interest in ZKsync as its price jumps significantly.
• The surge follows several strategic moves including a key listing on Coinbase.
• “Our community overwhelmingly supports the migration to ZKsync,” Treasure DAO revealed.

Discover the latest developments in ZKsync’s journey, including Coinbase listings and significant DAO migrations, that are reshaping the blockchain landscape.

ZKsync Sees Sharp Price Increase Post-Coinbase Listing

The recent addition of ZKsync to Coinbase’s platform has caused a significant price surge, with the cryptocurrency hitting a 30-day high. This development has piqued the interest of bullish traders who are taking advantage of the positive market sentiment. Coinbase has enabled the transfer of ZKsync assets within regions where trading is allowed, stressing caution to avoid transferring the assets over unsupported networks which could lead to the loss of funds.

Coinbase’s Layered Listing Strategy

Coinbase’s strategy to introduce ZKsync follows a phased approach, with trading slated to begin at 9 AM PT on September 25, 2024, contingent upon liquidity conditions. Initially, trading will be available for the ZK-USD pair. Although some regions may face trading restrictions due to regional compliance requirements, this move is anticipated to bolster ZKsync’s visibility and adoption.

Broader Asset Inclusion on Coinbase

Coinbase is not just focusing on ZKsync but is also expanding its asset portfolio with several other digital currencies. These include CoW Protocol on Ethereum, Moonwell on the Base network, Catizen perpetual futures on its International Exchange, and Zetachain trading. This expansion aligns with Coinbase’s effort to meet the growing demand for Layer 2 scaling solutions that promise faster transactions and reduced costs compared to traditional blockchains.

Treasure DAO’s Migration to ZKsync

Parallel to these developments, Treasure DAO has decided to migrate from the Arbitrum blockchain to ZKsync. An overwhelming 99.5% of participants in a community vote supported this move, highlighting the DAO’s commitment to utilizing ZKsync’s advanced technologies for better scalability and security. Treasure DAO believes that ZKsync’s ZK Stack technology will greatly enhance the performance and interoperability of its decentralized gaming ecosystem, making it more attractive to blockchain game developers.

Impact of the Migration on ZKsync’s Market Performance

The announcement of Treasure DAO’s migration has positively impacted ZKsync’s market performance. The cryptocurrency has risen from an intra-day low of $0.1215 to a monthly high of $0.1343. As of the latest update, ZKsync is trading at $0.1333, reflecting a 6.50% increase in the last 24 hours and a remarkable 20% increase over the past week.

Conclusion

In summary, the recent developments surrounding ZKsync, including its listing on Coinbase and the strategic migration by Treasure DAO, have not only boosted its price but also increased its adoption and market visibility. These moves demonstrate the growing confidence in ZKsync’s potential to enhance blockchain performance, offering a promising outlook for its future in the cryptocurrency landscape.