ZK (ZKsync) fell 5.14% in the last 24 hours.

Gate News Bot news, on November 14, according to CoinMarketCap, as of the time of writing, ZK (ZKsync) is currently priced at 0.05 USD, having fallen by 5.14% in the last 24 hours, with a high of 0.07 USD and a low of 0.05 USD. The current market capitalization is approximately 409 million USD, a decrease of 22.1503 million USD compared to yesterday.

Important news about ZK recently:

1️⃣ ZK Nation community proposes to upgrade the token contract The ZK Nation community has released an important proposal to upgrade the ZK token contract to the ZKTokenV3 version. The new version will introduce a public burn function, allowing token holders to permanently destroy their held tokens. In addition, specific roles can burn tokens from designated accounts and enforce a maximum supply of 21 billion ZK. This upgrade aims to enhance the flexibility and controllability of the tokens, which may have a positive impact on the long-term value of ZK.

2️⃣ ZKsync founder emphasizes institutional-level privacy needs Recently, ZKsync founder Alex Gluchowski pointed out that privacy tools are becoming a key factor driving institutional adoption of blockchain technology. With a large number of institutions holding significant crypto assets, the demand for “system-level privacy” is becoming increasingly prominent. This perspective highlights the potential advantages of ZKsync in privacy solutions, which could attract more institutional investors to focus on the ZK ecosystem.

3️⃣ Ethereum founder discusses limitations of ZK technology Ethereum founder Vitalik Buterin recently discussed the limitations of ZK technology, particularly its shortcomings in providing anti-coercion. He suggested combining ZK with other technologies like FHE to enhance the overall security of the system. This perspective could drive further development and innovation in ZK technology, but in the short term, it may have some impact on investor confidence.

From a technical perspective, the price of ZK has experienced significant fluctuations recently. Although there was a single-day increase of 8.43% on November 10, a pullback followed. Considering the ongoing market focus on privacy technology and the potential upgrades in the ZK ecosystem, the long-term development prospects of ZK remain worthy of attention. However, investors should closely monitor the progress of the token contract upgrades and the potential short-term market reactions they may bring.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.