ZK (ZKsync) rose 20.06% in the last 24 hours.

Gate News Bot news, on November 3rd, according to CoinMarketCap data, ZK (ZKsync) is currently priced at $0.06, with a rise of 20.06% in the last 24 hours, reaching a high of $0.07 and a low of $0.03. The current market capitalization is approximately $46.9 million, an increase of $78.4 million compared to yesterday.

ZKsync is a blockchain network protected by cryptographic technology, rather than by validators. Its cutting-edge ZK innovation technology enables enterprises to thrive in the digital asset economy by providing the necessary privacy, performance, and connectivity. ZKsync connects public chains and private chains, forming a single network secured by cryptographic technology. It allows users to launch, control, and monetize their own chains while maintaining a connection to global liquidity. ZKsync supports real-time asset settlement, offering ~1 second network jump time and Ethereum finality within minutes, all secured by ZK technology.

Important news about ZK recently:

1️⃣ ZK contract open interest hits an all-time high

The total open interest of ZK contracts across the network has exceeded 2 billion pieces, with a market capitalization surpassing 100 million USD, setting a new historical high. In the past 24 hours, the open interest has increased by 453.92%, indicating that market interest and demand for ZK are rapidly rising. This significant rise may be one of the important factors driving the price of ZK up.

2️⃣ Vitalik Buterin discusses the application of ZK technology

Ethereum founder Vitalik Buterin mentioned the potential applications of ZK proofs when discussing content moderation and privacy issues. He pointed out that ZK proofs can be used to achieve anonymous posting combined with banning features, as well as delayed publishing of content changes by AI. This high-level discussion may enhance market confidence in the prospects of ZK technology.

3️⃣ The importance of ZK technology in the fields of privacy and security is emphasized.

In the discussion about data sensitivity and secure handling, ZK technology is mentioned as one of the possible solutions. Although the discussion points out that certain extremely sensitive data may require stricter protection, it also highlights the important role of ZK technology in the field of privacy protection and security.

From a technical perspective, the strong rise in ZK prices may be related to the significant expansion of its contract market. A substantial increase in open interest typically indicates a higher level of market participation, which may signal more trading activity and potential price volatility.

This message does not constitute investment advice, and investors should be aware of market volatility risks.