Highlights,Cryptocurrency exchange Coinbase has announced the addition of ZKsync (ZK) on its platform, a move that has driven ZKsync’s price to a 30-day high, as bullish traders counter the recent bearish trend. ,The announcement outlined that users could now transfer ZKsync assets on Coinbase and Coinbase Exchange in regions where trading is permitted. However, the exchange warned users against sending the asset over other networks, as it could result in the loss of funds.,According to a recent X post by the cryptocurrency exchange, trading for ZKsync is expected to commence on or after 9 AM PT on September 25, 2024, provided liquidity conditions are met. The trading will initially launch in phases on the ZK-USD trading pair. ,Coinbase highlighted that trading support for ZKsync might be restricted in some jurisdictions due to regional compliance requirements. This listing is anticipated to enhance the visibility and adoption of ZKsync, which has been gaining traction in the blockchain ecosystem.,,The addition of ZKsync aligns with the exchange’s ongoing strategy to broaden its portfolio of supported assets, catering to the increasing demand for Layer 2 scaling solutions that offer improved transaction speeds and lower costs compared to traditional Layer 1 blockchains.
In addition to supporting ZKsync, Coinbase has announced plans to list several other digital assets across its platforms. These include CoW Protocol (COW) on the Ethereum network, Moonwell (WELL) on the Base network, Catizen (CATI) perpetual futures on Coinbase International Exchange, and Zetachain (ZETA) trading.,In parallel to the exchange’s listing, Treasure DAO, a decentralized gaming ecosystem, has announced its migration from the Arbitrum blockchain to ZKsync. The decision follows an “overwhelming” vote from the DAO’s community, with 99.5% of participants favoring the move.
,,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.
,Treasure DAO initially intended to use Arbitrum Orbit for its scalability needs but later found ZKsync’s infrastructure to be a better fit for its long-term objectives. This migration aims not only to boost the DAO’s performance and interoperability but also to make its platform more appealing to the growing number of blockchain-based games.,Post the announcement, the ZKsync price recovered from an intra-day low of $0.1215 to a monthly high of $0.1343, before facing resistance. ,Nonetheless, at press time, ZKsync price was still bullish with the price trading at $0.1333, a 6.50% surge in the last 24 hours and 20% in the last week.,
Source: CoinMarketCap
Accompanying the rally, ZK’s market capitalization and 24 hour trading volume surged by 6.5% and 33% respectively to $489,990,341 and $75,692,687. ,
https://coinniu.com/zksync-price-skyrockets-as-coinbase-rolls-out-trading-support/
