Research Summary
The report discusses the recent trends in the cryptocurrency market, focusing on airdrops, token launches, and DeFi protocols. It highlights the performance of ZKsync and LayerZero protocols, the ZK token’s trading value, and the impact of airdrops on network congestion. The report also provides insights into farming strategies, upcoming crypto events, and resources for further research.
Key Takeaways
ZKsync Airdrop and Token Performance
- ZKsync Airdrop: ZKsync announced airdrop eligibility details, with nearly 700,000 wallets qualifying for the airdrop. Users could qualify for up to 100k ZK tokens. The total supply of ZK Airdrop Distribution was 21,000,000,000, with an airdropped supply of 3,675,000,000.
- ZK Token Performance: The ZK token initially traded around $0.70 in pre-markets but quickly dropped to $0.30. At the time of the report, the ZK token was trading at about $0.20.
Network Congestion and Upcoming Airdrops
- Network Congestion: The ZKsync network experienced substantial congestion due to users rushing to claim their tokens. LayerZero is expected to make an airdrop announcement soon.
- Upcoming Airdrops: ZKsync and LayerZero, two of the largest protocols in crypto, are expected to airdrop in the near future.
Farming Strategies and Potential Airdrops
- Farming Strategies: The report suggests thinking six months ahead when farming. Protocols that have been available to farm for over a year have yielded large paydays for consistent users.
- Potential Airdrops: The report hints at TON, Base, Linea, and Stacks as protocols that can be farmed now and might airdrop in six months.
DEX Volume and Performance
- DEX Volume Increase: The total DEX volume is up 31% week over week, approaching $5B in total volume over the last seven days. Uniswap & Aerodrome led the volume increase, accounting for 80% of total Base volume.
- Performance of Other Protocols: PancakeSwap and WOOFi, despite having a smaller percentage of the total volume, saw substantial increases in volume over the past week.
Actionable Insights
- Monitor ZK Token Performance: Given the recent drop in ZK token’s trading value, it would be beneficial to keep a close eye on its performance and market trends.
- Prepare for Upcoming Airdrops: With the anticipated airdrops from ZKsync and LayerZero, users should check their eligibility and prepare for potential network congestion.
- Consider Long-Term Farming Strategies: The report suggests that consistent farming over a longer period can yield significant paydays. Users should consider this strategy and research potential airdrops from TON, Base, Linea, and Stacks.
- Track DEX Volume Trends: The increase in DEX volume indicates active trading. Users should monitor these trends and the performance of different protocols for potential opportunities.
