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ZkSync Defies Market Downtrend, Surges 150% in November — What’s Driving the Rally?
Yahoo Finance· 2025-11-06 08:39
Core Insights - ZkSync, a Layer-2 altcoin, has experienced a significant recovery, with a 150% price increase in November after falling over 90% from its peak [1][2][3] Price Performance - ZkSync's price rose from $0.03 to over $0.07 in the first week of November, despite a general decline in the crypto market [3] - The 24-hour trading volume for ZkSync exceeded $700 million, a dramatic increase from an average of less than $20 million per day in the previous month, indicating heightened trader interest [4] Community Engagement - Social mentions of ZkSync have reached their highest level in a month, reflecting increased community attention and enthusiasm [4] Key Drivers of the Rally - Vitalik Buterin's endorsement of ZkSync's Atlas upgrade in early November significantly boosted the project's visibility and credibility, enhancing transaction speed and cost efficiency [6][7] - ZkSync's founder proposed transforming the ZK governance token into a utility token linked to network revenue, which investors believe will enhance its functionality and create sustainable demand [8][9]