Bitget has launched a new staking option on its PoolX platform, allowing users to earn more ZK tokens. This development comes as the market looks for signs of recovery following recent price turbulence.

ZK Token Staking Details

The staking feature has a pool of 413,700 ZK tokens up for staking, with a maximum staking limit of 4,137,000 ZK. The staking duration is from June 18 to June 28, and rewards are given hourly based on the staking volume of the user.

Token Airdrop Sell-Off

After the recent airdrop of ZK tokens by zkSync, 41% of the recipients sold off their entire tokens on the first day, leading to a price drop to around $0.020. The sell-off included more than 4,160 wallet addresses, with 30% of top recipients selling parts of their tokens, and nearly 29% of them keeping their tokens.

ZK Token Price Trend

In the last 24 hours, bears have had the upper hand, with bullish attempts to recover nullified after resistance at $0.2311 proved too stiff to breach. However, as of press time, the bulls had seized market control with ZK token price trading at $0.2146, a 0.50% surge. Despite this bullish reversal, the token is still 30% down from its all-time high of $0.3098, recorded two days ago.

Market Capitalization and Trading Volume

During this recovery, ZK's market capitalization surged by 1.14% to $793,600,019, while the 24-hour trading volume declined by 12% to $798,789,848.