Binance Announced for 2 Altcoins: There is also a New Coin Entering the Market!

The cryptocurrency market is going through active days. Ethereum scaling solution zkSync encountered some troubles during the much-anticipated and controversial ZK token airdrop. At the same time, cryptocurrency exchange giant Binance is dealing with its own technical issues in preparations to list the ZK token. In addition to this chaos, Binance has also opened a new Perpetual Contract market for MEW (cat in a dogs world).

zkSync airdrop problems

“The network is currently under high load,” the zkSync group said in a statement on Twitter on Monday morning. Some RPC services may experience performance degradation.” He used the expressions. At the time of writing, the team has not yet announced that the matters have been resolved. But despite the ongoing issues, ZK Nation, the community created to manage the ecosystem and token, stated that 45% of the airdropped tokens were claimed by more than 225,000 wallets.

The ZK Nation team spent much of the weekend responding to angry community members on Twitter and updating the FAQ documentation on how Sybil detection is used to determine eligibility. Sybil raids occur when a single user creates and controls multiple accounts or wallets and uses them to gain a lot of activity. However, a very vocal group of users claim that Sybil detection still allows suspicious wallets.

ZK token distribution program on Binance exchange: Listed in futures processes

On the other hand, Binance is dealing with its own difficulties in time for the process opening for ZK. “Our technical team is immediately fixing the issue and it will be fixed before the process starts,” the stock exchange said on Twitter. “Investments will be added to the account after the block height is reached,” he said. Binance later announced that the ZK listing was postponed until the technical issues were resolved. However, ZK is actually trading on other exchanges, and its price has fallen 23% since its launch to $0.2413.

The company was planning to allow users to deposit ZK into their wallets “in preparation for making transactions.” It initially announced that it would list trading pairs for ZK with Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD) and Turkish Lira (TRY). The company will also offer up to 10.5 million ZK tokens to up to 52,000 users through the Binance ZK Token Distribution Program to address ongoing community concerns regarding ZK token distribution. Binance distributes tokens specifically to wallets that have not been issued ZK tokens, but have completed at least 50 transactions (excluding self-transfers) in zkSync Era L2.

MEW’s new permanent term contract

While Binance struggles with zkSync airdrop problems and ZK token listing delay, it has opened a new Perpetual Contract market for MEW (cat in a dogs world). The new contract offers up to 50x leverage and allows users to buy and sell MEWUSDT tokens and profit from price fluctuations.