ZkSync's ZK Pumps 10% on Coinbase Listing

Trading began at midday New York time.

Coinbase, the world’s fourth-largest cryptocurrency exchange by 24-hour volume, added support for ZKsync’s native token, ZK, driving up its price.

Within minutes, ZK spiked 10% to $0.13 and has since maintained that level. ZK has been on a roll during September, notching double-digit gains throughout the month.

the-defiant — ZK Price - Source: Coingecko

Price action aside, there have been a series of important developments in the ZKsync ecosystem, which is currently 7th among all Ethereum scaling solutions with $900 million in total value locked (TVL).

The organization launched a new governance system with a three-body structure designed around three core pillars: token assembly, a security council, and guardians. According to Gabriel Shapiro – who is as legal advisor to ZKsync through his firm MetaLexPro and will be both a guardian and delegate – the new structure represents a middle ground between traditional companies’ checks and balances, and those employed by DAOs.

But not everything is rosy in ZkSync’s ecosystem.

A few weeks ago, Matter Labs, the firm backing the protocol, announced a mass round of layoffs for the first time ever, in a bid to keep the team “agile” and “lean” said Alex Gluchowski, CEO and co-founder of the company.