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BTC $47765.96 (-1.7%)
ETH $3380.23 (-4.0%)
USDT $0.99 (-0.0%)
BCH $621.77 (-2.2%)
BSV $156.22 (-1.6%)
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BNB $407.17 (-2.7%)
ADA $2.35 (-2.5%)
DOGE $0.23 (-2.9%)

Biggest Layer-2 DEX, ZKSwap (ZKS), Surges Nearly 60x in Q1 2021

Biggest_Layer_2_DEX,_ZKSwap_ZKS,_Surges_Nearly_60x_in_Q1_2021
  • ZKSwap native token ZKS surged 60x in Q1 2021.
  • The currency is well on its way to rebounding to its All-Time-High price.
  • ZKS has also added airdrops to encourage liquidity providers.

ZKSwap native token ZKS multiplied in value by nearly 60 times in Q1 2021. In just the last two weeks, it rose in value by a whopping 30%. Maintaining a steady pattern, the currency is already on its way to reaching its previous February ATH of $11.24.

Recently launched officially on the Ethereum mainnet, ZKSwap is a Layer-2 DEX and is based on  Automated Market Maker (AMM). It uses ZK-Rollup technology to realize the full set of Uniswap functions in Layer-2 while providing scalability and privacy. ZKSwap provides traders with a platform where they can easily invest, swap, and stake cryptocurrencies. Also, traders can earn rewards for providing liquidity.

Most recently, on April 10, ZKSwap added another 6 million ZKS airdrops to encourage liquidity providers. This will ramp up its liquidity mining campaign (PoL), and with additional rewards to traders of up to 600,000 ZKS for WBTC/ETH, BBTC/WBTC and BBTC/ETH trading pairs. Currently, ZKS ranks as the 127th currency in terms of market capitalization.

ZKSwap Technical Price Analysis – (ZKS) Surges Nearly 60x in Q1 2021

ZKS is one of the rising digital assets in the crypto world today. In terms of market position, ZKS has over $600 million market capitalization with an average of over $50 million daily trading volume. Do you think this is enough for ZKS to maintain its uptrend position? Are you already interested to know? Therefore, join me, and together let us check this ZKS price analysis.

Source: TradingView
(Source: TradingView)

As seen in the graph above, ZKS continues to move above the Fibonacci level of 0.382, a bullish level. Today, ZKS trades at a high price of $3.18, with a growth rate of +34.1% in the past 30 days. Indeed, a great movement of the crypto favored by investors and traders globally.

Furthermore, based on the data recorded by CoinGecko, ZKS was able to reach the ATH bullish price of $11.37, which is almost a 60X price surge from its current price. If this trend keeps on, ZKS may have the chance to overtake its ATH in no time. Truly, this event will drive the crypto community crazy over ZKS if this happens.

Meanwhile, the crypto’s current position above the Fibonacci golden ratio (.618) indicates an uptrend position. In other words, ZKS is one of the cryptos with a potentially bright future this year. 

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.