ZEROBASE token drops 50% as crypto market weakness hits debut
Amid a broader crypto market downturn, ZEROBASE (ZBT) — a decentralized infrastructure network backed by Binance — debuted with its token price falling by more than 50%, even as developers claimed to have achieved remarkable technical milestones in the highly competitive ZKP-computing segment.
Founded in March 2024 by Mirror Tang, a professor of cryptography at Shanghai Jiao Tong University, and developed with support from the Salus Security research group, ZEROBASE attracted early venture interest from Binance Labs, securing $5 million in a seed round after participating in the Binance incubation program.
The project’s key innovation lies in combining off-chain zero-knowledge proof (ZKP) computations with trusted execution environments (TEE) — a design that promises both privacy preservation and regulatory compliance. According to project documentation, ZEROBASE can generate proofs in under 400 milliseconds at a cost of less than one cent per proof, outperforming existing solutions in speed and efficiency.
A tough market timing
However, even with these advantages, the project’s market debut on major exchanges — including Binance, Upbit, and KuCoin — was underwhelming.After launching at $0.87 and briefly touching $1, the ZBT token quickly retraced, spending much of the day trading around $0.40.
ZBT price dynamics after listing. Source: CoinMarketCap
Analysts attribute the weak start to the overall bearish sentiment in the crypto market and the profit-taking by airdrop recipients, who rushed to sell their tokens amid market uncertainty.
As we wrote, Linea token falls 22% after listing amid airdrop selling
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