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Ethereum Founder Vitalik Buterin Triggered 120% ZkSync Price Rally With This Post
Yahoo Finance· 2025-11-02 16:10
Core Insights - ZKsync's price surged 120% to $0.74 following Ethereum co-founder Vitalik Buterin's endorsement, which ignited market optimism [1] - The price rally was initiated by the announcement of the Atlas upgrade, emphasizing scalability, interoperability, and transaction speeds [1][2] - ZKsync's market cap reached approximately $600 million, the highest since May 2025, with trading volume increasing by 1,500% [5] Upgrade and Features - The Atlas upgrade allows Layer-2 protocols to utilize Ethereum for liquidity and institutional capital flows, particularly for cross-chain transactions and asset tokenization [2] - The project features include instant cross-border settlement, zero liquidity fragmentation, and atomic transactions exceeding 15,000 TPS with one-second latency [4] - Over 30 leading institutions, including Citi, Deutsche Bank, and Mastercard, are observing Prividium's capabilities [4] Market Reaction - Following Buterin's comments, ZKsync's price rose from around $0.03 to $0.055, eventually reaching $0.74 [3] - The bullish sentiment was confirmed by a long-term falling wedge breakout above $0.70, indicating a new uptrend cycle [6] - The Relative Strength Index (RSI) reached 76.13, suggesting strong momentum but potential short-term exhaustion near the $0.072–$0.075 resistance range [8]