Boundless (ZKC) plunged 50% in 24 hours, falling from $1.80 to $0.79 one day after its mainnet launch.
The decline was fueled by airdrop recipients offloading tokens, alongside heavy exchange trading activity.
Volume spiked to $1.24 billion, but the fact that the price fell alongside shows dominant selling pressure.
ZKC, the native token of the Boundless project, has seen its price sink by 50% in the last 24 hours. This comes one day after Boundless launched on Mainnet.
However, the project did not just launch on the mainnet. It also distributed airdrops to some of its early adopters.
Despite that, it does not seem like the ZKC token price will recover quickly. Here is why.
Its model allows independent prover nodes to generate ZK proofs for Layer 1s, applications, and rollups across multiple chains.
On Monday, Sept. 15, the project officially launched on mainnet and introduced its ZKC token.
With a total supply of 1 billion tokens, Boundless released 200 million into circulation, including allocations for an airdrop.
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At launch, ZKC spiked to $1.80, but within 24 hours, the token had crashed 50% to $0.79. According to CCN’s findings, the steep decline was driven by airdrop recipients selling off their tokens.
It also appears that several exchange listings, including Binance, Coinbase, and Bybit, contributed to the sell-off.
Trading data supports this. At press time, volume surged to $1.24 billion, showing strong market interest.
However, since the price fell alongside rising activity, it suggests that selling pressure dominated the market.
If this trend continues—rising volume paired with falling price — ZKC’s price could face further downside in the short term. On the flip side, stabilization of sell-offs could allow Boundless to rebuild momentum as its fundamentals gain attention.
ZKC Price Prediction: Unclear
From a technical standpoint, it may be too early to predict ZKC’s next move.
The token is still in price discovery mode, meaning the market is actively searching for a fair value through heightened volatility and speculative trading.
A closer look at the 30-minute chart shows that ZKC printed several red candlesticks before finally flashing a green one. This hints at an early attempt by buyers to counter the sell pressure.
If buying momentum builds, the ZKC token could breach the $0.83 resistance. A breakout at that level might drive the token toward $0.91, and with strong enough demand, even open the door for a retest of $1.
However, the risk remains on the downside. If selling pressure persists, ZKC could slip below support at $0.78. A breakdown there might drag the token further, potentially sinking it to $0.50.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
