In a remarkable display of crypto savvy, an "airdrop hunter" has managed to secure a whopping $753,000 worth of the newly launched ZKsync token (ZK) through 85 wallets. This impressive feat was tracked by the crypto analytics platform Lookonchain, which revealed that the trader subsequently deposited 2.71 million ZK worth $678,000 into Binance and sold 300,000 ZK for 20 Ethereum (ETH) worth $69,000 via the decentralized exchange (DEX) SyncSwap.

ZKsync, a layer-2 Ethereum scaling protocol, launched its inaugural airdrop on Monday, distributing 17.5% of the asset's overall supply to 695,232 wallets. The ZKsync Association reported that over 45% of the airdropped ZK token supply was claimed by more than 225,000 addresses in under two hours, leading to degraded network performance. The association emphasized that two-thirds of the overall token supply will go to the community, while one-third will be allocated to the project's team and investors.

The ZK token is a protocol token that empowers token holders to propose and vote on protocol upgrades and pay for network fees using ZKsync's native account abstraction. Through governance-driven protocol upgrades, the community can evolve ZK to introduce staking and other functions. As more ZK chains launch, the token can become a vital tool for coordinating technical innovation. Notably, ZK is already the 97th-ranked crypto asset, with a market capitalization of over $796 million.

The airdrop hunter's strategic moves have sparked interest in the crypto community, as ZKsync Era is the first ZK chain, with Lens Network, Cronos zkEVM, GRVT, and others set to debut in the coming months. The asset's price has fluctuated, starting at $0.28 and currently trading at $0.217.

In conclusion, the airdrop hunter's success story serves as a reminder of the opportunities and risks in the crypto market. As the space continues to evolve, it's crucial for investors to do their due diligence and stay informed about market developments. The Daily Hodl provides up-to-date news and insights, but it's essential to remember that opinions expressed are not investment advice, and investors should always take responsibility for their own decisions.