ZKC Token Soars 66% as Upbit Lifts Investment Warning
On October 17, while major cryptocurrencies like Bitcoin and Ethereum experienced declines, Boundless (ZKC) surged by 66%, trading around $0.3039 with a market cap of $61 million.
- The rally followed Upbit's removal of an "investment warning" on ZKC, leading to a 1,300% increase in its 24-hour trading volume.
- Previously, DAXA had flagged ZKC due to concerns over tokenomics transparency, causing the price to drop to $0.13 and losing $150 million in market capitalization.
- The Boundless Foundation clarified that all tokenomic adjustments were pre-TGE, aiming for a community-driven ecosystem.
- Key changes included increasing community allocations and extending the strategic fund’s unlock period from one to three years.
- Post-clarification, DAXA lifted the warning, allowing ZKC trading and deposits on Upbit.
Investor confidence has returned to ZKC, with support from investors like Figment Capital, Bain Capital, Delphi Ventures, and Galaxy. Analysts anticipate further recovery, potentially reaching $1 if altcoins rally.