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The ZKsync price dropped 3% in the last 24 hours to trade at $0.04709 as of 3 a.m. EST on trading volume that skyrocketed 250% to $109.73 million.
The project’s price started going down after a security incident yesterday in which a hacker minted $5 million in ZK tokens after managing to compromise the project’s admin account.
The account was tied to ZKsync’s airdrop contracts, and they minted 111 million unclaimed tokens, worth around $5 million.
The project reported the incident on X, saying that the minting inflated the amount of tokens in circulation by around 0.45% of the total supply. The devs noted that all the funds that could have been minted have been minted, so no further exploits using this same method are possible.
Update: the investigation has revealed that the account that was the admin of the three airdrop distribution contracts had been compromised. The compromised account address is 0x842822c797049269A3c29464221995C56da5587D.
The attacker called the sweepUnclaimed() function that…
— ZKsync (∎, ∆) (@zksync) April 15, 2025
ZKsync Price Prediction
After the incident, the ZK price saw a sharp drop from $0.04773 to $0.04063, but it quickly recovered to pre-drop levels. Still, compared to 24 hours ago, the project’s price sits 3% lower. ZKsync’s Bollinger bands saw a massive widening at the time of the drop to signify increased activity, but after the price recovered, the bands grew tight once again, returning to previous levels.
Over the past 9 hours or so, the price started to increase slightly, fluctuating between the upper band and the middle point between the two bands. However, the last few hours resulted in a 3% drop, which returned it to the lower band, signaling bearish sentiment.
The project’s Relative Strength Index (RSI) shows that the traders oversold the token at the time of the announcement, but others rushed in to buy the dip, and they returned the token’s price to pre-drop levels.
The RSI itself surged to the neutral value of 50, fluctuating around it for hours before traders became somewhat more optimistic. This pushed the RSI to go from 50 to 60, but the last few hours saw it drop back down to 40. For the moment, the token seemingly found relative stability in the aftermath of the incident, which did not cause as much harm to its price as expected.
Promising Alternative To ZKsync
As ZKsync tumbles, traders are piling into Best Wallet (BEST), which has surged past $11.7 million in presale.
Best Wallet supports over 60 blockchains and thousands of cryptos that run on them, has a native launchpad, and even lets you connect your other wallets to it. That way, you can easily manage your portfolios from one place.
🚀 Best Wallet V2.6.1 Is Now Live! 🚀
You can now stake your purchased tokens directly in Upcoming Tokens—giving you more flexibility and control over your assets.
This update also brings bug fixes, improvements to Wallet Connect, and more! ⚡
Update your app now to access the… pic.twitter.com/WzNxEDbH0C
— Best Wallet (@BestWalletHQ) April 7, 2025
Crypto YouTuber ClayBro, who has over 136k subscribers, said it is a perfect wallet for buying other popular cryptos.
BEST token holders gain a variety of benefits, including low fees, high staking rewards, early access to new tokens, and the ability to join community governance.
BEST tokens are on sale for $0.02475 apiece. Interested investors should buy before a price hike in a little more than 1 day.
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