• Notcoin plummeted 12% in a single day, regardless of hovering 130% over the previous month.
• zkSync fell 16%, with 41.1% of prime wallets promoting their complete airdrop allocations.
• ZkSync's 24-hour buying and selling quantity elevated 125.48% to $1.02 billion regardless of the sell-off.

The current cryptocurrency market downturn has had a noticeable affect on the valuation of Notcoin (NOT) and zkSync (ZK) tokens. On the time of writing, NOT has misplaced 13% in worth over the previous 24 hours and is at the moment buying and selling at $0.01582.

On the identical time, ZK has additionally fallen, dropping 16% to a present worth of $0.2006. These adjustments have come alongside a slight 1% drop within the worth of Bitcoin, which continues to be above the $65,000 assist stage.

Not worth motion

Regardless of the current decline, NOT has surged 130% within the final month, making it one of many standout cryptocurrencies. Nonetheless, the worth of NOT has fallen from a excessive of $0.021 to its present charge throughout a three-day sell-off, in keeping with TradingView.

This drop, mixed with a 6.26% drop in buying and selling quantity, brings NOT's market cap to $1.61 billion, transferring it simply exterior the highest 50 cryptocurrencies. NOT is at the moment buying and selling 45% under the all-time excessive of $0.02896 it hit 16 days in the past after itemizing on Binance.

In the meantime, the Relative Power Index (RSI) is at 51.43, which signifies sustained shopping for curiosity and isn’t bullish on the RSI spectrum. The correction is in keeping with analysts’ expectations after the sharp appreciation in worth.

In the meantime, X-Platform (previously Twitter) person W3Vibes famous that the worth drop was resulting from traders promoting after a month of staking. W3Vibes famous that the promoting stress was at a manageable stage and the shopping for quantity seen earlier was stable, that means the market should present resilience and recuperate.

ZK Worth Pattern

In tandem with Notcoin, the zkSync token additionally noticed a big drop. This drop was pushed by a big proportion of prime wallets that obtained new zkSync tokens on Monday, June 17, rapidly promoting their allocations.

In response to knowledge from blockchain analytics agency Nansen, 41.1% of tracked addresses offered their complete airdrop allocation, whereas 30.3% offered at the least a portion of their tokens, with the whole quantity offered throughout these teams exceeding 497 million ZK tokens.

Regardless of this sell-off, roughly 28.5% of the highest receiving wallets selected to carry their ZK tokens. The elevated buying and selling exercise noticed 24-hour buying and selling quantity surge by 125.48%, reaching roughly $1,021,708,204.

Moreover, zkSync tokens have a complete provide of 21 billion, giving them a completely diluted market cap of over $4.224 billion. Nonetheless, solely 17.5% of this provide is in circulation, leading to an intraday market cap of roughly $738 million, down from a excessive of over $1.1 billion recorded shortly after its debut.