ZKsync trading went live a day back. A few hours post- launch, when the market participants settled in, it was priced at around $0.2403, boasting an $894 million market cap.

With blood on the streets on Tuesday, it was one of the top losers. ZK was seen hovering at the brink of the $0.2 mark, down by around 17% on the daily timeframe.

Data from a live Nansen dashboard pointed out that most of the top 10,000  airdrop receivers have ended up selling their holdings already. As depicted below, 41.1% of them have ‘jeeted,' while 30.1% of them ‘partially jeeted.’ Only the remaining 28.8% of users continue to cling onto their ZK stash.

At this stage, it should be noted that not all the airdropped tokens have been claimed. Data from a Dune Analytics dashboard developed by Matter Labs’ Landon Gingerich revealed that around 523k addresses had claimed a little over three-fourths of the airdropped ZK tokens.

Even though more than 66% of the token supply had been earmarked for the community, the project received criticism from several stalwarts from the community over ineligibility and Sybils.

Some community memvers continue to remain sour about ZK and haven’t shied away from pointing out the irony. One user asserted that the most loyal users were targeted by the team for the airdrop, and surprisingly, they ended up ditching and dumping their allocation.

However, others feel that ZK is undervalued and it is too early to judge. Opining on top hodlers jeeting, a particular user asserted,

“Sold zero, nothing, nada! ZK is way undervalued and the tech is still the same and one of the absolute best! Just lots of FUD and paper hand users. It has only been 1 day, let’s see next week.”