March 14, 2025
ZKSYNC Sunsets Liquidity Rewards Program, Citing Bearish Market Conditions thumbnail
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ZKSYNC Sunsets Liquidity Rewards Program, Citing Bearish Market Conditions

The Blockchain Has LOST AROUND 50% OF TOTAL VALUE LOCKED SINCE JAN. 30.”, – WRITE: www.coindesk.com

The Blockchain Has LOST AROUND 50% OF TOTAL VALUE LOCKED SINCE JAN. 30. Mar 14, 2025, 12:10 PM UTC

Layer-2 NETWORK ZKSYNC HAS ANNUNCED THAT IT WILL BE Sunsetting the Ignite Program, Who Rewarded USers for Providing Liquidity, Due To Bearish Market Conditions.

“After Careful Consideration, The Defi Steering Committee (DSC) Has Doneed to Not Renew Ignite for Season 2 And Will Be Sunsetting The Program Starting March 17th, 2025 by Turning F. On X.

It Aded that Long-Term Vision Is Center Alastic Network, WHICH IS Composed of Multiple Chains with the Zksync Ecosystom.

“Unfortunately We’re Navigating A Bearish Market Right Now. In Line with Many Other Ecosystems; Conditions, “It Added. “To Stay SustainAnable, We’re Tightling Our Focus and Spending Smarter, Racher Than Fighting Headwinds.”

Total Value Locked (TVL) On ZKSYNC IS DOWN BY AROUND 50% SINCE JAN. 30 As the Wider Crypto Market is Grappling with A Correction That Has Seen Bitcoin and Ether Lose 13% and 27% of Their Respect Market Caps in The Past MONT.

Zksync’s Native Token (ZK) Has Plunged by 35% in the Same Period.

Oliver KnightOliver Knight is the Co-LEADER OF COINDESK DATA TOKENS AND DATA TEAM. Before joining coindesk in 2022 Oliver Spen Three Years As the Chief Reporter at Coin Riveet. He First Started Investing in Bitcoin in 2013 and Spen A Period of His Career Working at A Market Making Firm in the UK. He does not currently have any crypto holdings.

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Oliver Knight

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