- ZKC surges 66% after Upbit lifts investment warning, restoring market confidence.
- Boundless Foundation clarifies tokenomics changes, easing investor concerns and boosting sentiment.
- Analysts predict extended rally as trading volume and investor interest surge rapidly.
The crypto market painted a sea of red on October 17, but Boundless (ZKC) defied the trend. While top coins struggled, ZKC soared 66% in just 24 hours. The token now trades near $0.3039, boasting a $61 million market cap. This sudden reversal surprised many investors, especially after weeks of uncertainty. The rally came shortly after South Korea’s biggest exchange, Upbit, lifted an “investment warning” on the token, triggering renewed optimism across the market.
DAXA Clears ZKC, Confidence Returns
Earlier this month, the Digital Asset Exchange Association (DAXA) flagged ZKC for review, sparking concern among traders. The move forced Upbit to halt ZKC deposits while the group investigated token supply transparency. Questions emerged around discrepancies in Boundless’s tokenomics, creating fear and uncertainty. Within days, panic selling took over, driving ZKC’s price down to $0.13 and wiping out around $150 million in market capitalization.
The Boundless Foundation quickly responded to calm investors. The team explained that all tokenomic changes were finalized before the Token Generation Event. According to the foundation, the adjustments aimed to create a fairer, community-focused ecosystem. The updates included increasing the community allocation from 1.5% to 6.85%, expanding airdrop shares to 6.63%, and reducing the ecosystem fund from 31% to 23.52%.
Another key revision extended the unlock period for the strategic fund from one year to three. This change displayed long-term commitment and helped rebuild investor trust . After reviewing these clarifications, DAXA lifted the red flag, allowing ZKC trading and deposits to resume on Upbit. The market reaction was instant. Within hours, ZKC’s trading volume exploded by over 1,300%, signaling a rush of new buyers eager to re-enter the market.
Could This Be the Start of a Bigger Rally?
With that uncertainty behind it, investor sentiment around ZKC has turned bullish once again. The project has backing from large investors such as Bain Capital, Delphi Ventures, Figment Capital, and Galaxy. With this institutional support, traders are reassured that ZKC is still a serious competitor for the blockchain space. Analysts believe this rally indicates there are more sizable moves to come with the altcoin space should it remain positive.
ZKC has proven its capabilities before. Upon the Boundless mainnet launch and the token airdrop in mid-September, the token traded at $2.13. While current prices are well below this level, the rebound shows that confidence is coming back into the market at a good pace. Traders see this dip in prices as another accumulation opportunity, betting on a recovery trend on a longer basis.
Market technicians are now watching whether ZKC can keep up its momentum from above $0.30. Should the buying pressure continue, the next levels of resistance could well be positioned near $0.50 and $0.80. There is even speculation that a $1 target is achievable, particularly if Bitcoin and the altcoins can get back on track with their bullish moves.
