ZKC price falls 40% after Boundless market debut
On September 15, a new crypto startup, Boundless, entered the open market, introducing its ZKC token for blockchain scaling. The Boundless Zero-Knowledge (ZK) protocol is designed for use across blockchain networks, rollup solutions, cross-chain bridges, and decentralized applications.
A key feature of Boundless is its Proof of Verifiable Work (PoVW) mechanism, which uses ERC-20 ZKC tokens to incentivize verifier nodes. Networks using Boundless services are expected to acquire ZKC or swap their native cryptocurrencies for it, thereby generating demand.
ZKC tokenomics include an unlimited maximum supply and annual inflation starting at 7%, decreasing to 3% by year eight. The total supply stands at 1 billion tokens, with 210 million (20.1%) already distributed. On Monday, ZKC debuted on Binance, ByBit, Gate.io, Upbit, while Coinbase categorized it as “Experimental.”
Did sellers fear inflation?
Trading activity showed strong interest in ZK projects, with volumes reaching $868 million at the time of writing. However, heavy selling pressure emerged within the first hours, driving the token’s price down more than 40% from its initial listing. ZKC mostly traded in the $0.86–$0.92 range after peaking at an ATH of $2.13.
ZKС price dynamics on the first day of listing. Source: CoinMarketCap
Some investors attributed the decline to concerns about the project’s high inflation rate. Still, price drops on debut day are common. Clearer insights may emerge in the coming days as exchange supply decreases and more tokens are staked or held by long-term supporters confident in Boundless’s prospects.
As we wrote, WLFI listing: Trump token hype and risk factors
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