Altcoins ZKsync, DeepBook, and WalletConnect Token Capture Market Spotlight Amid Broader Crypto Pullback
April 16, 2025 — While the global cryptocurrency market continues to reel from a $40 billion dip in total capitalization, a few altcoins are defying the downward trend to capture investor interest. ZKsync (ZK), DeepBook (DEEP), and WalletConnect Token (WCT) are emerging as today's most talked-about digital assets—each for notably different reasons.
ZKsync (ZK): Security Breach Sparks Volatility
Ethereum Layer-2 protocol ZKsync found itself at the center of attention after a major security incident. On Tuesday, the project disclosed that its admin wallet had been compromised, enabling an attacker to mint 111 million unclaimed ZK tokens—worth approximately $5 million.
The breach triggered swift market reaction. ZK’s price tumbled by 4% over the past 24 hours, currently trading around $0.047. Intriguingly, the coin's trading volume surged nearly 250%, signaling heightened selling pressure as panic set in among holders.
Analysts caution that this type of volume spike, paired with a falling price, often reflects fear-driven exits and could foreshadow further drops. If bearish sentiment prevails, ZK may test its all-time low of $0.039 once more. However, a reversal in market mood could push the token up to a potential resistance level around $0.08.
DeepBook (DEEP): A Quiet Climber in a Tumbling Market
In contrast to ZKsync’s troubles, DeepBook is riding a wave of bullish momentum. The altcoin has gained 10% over the past 24 hours and is up 69% over the past week—an impressive feat given the market-wide downturn.
Supporting this rally is a strengthening Relative Strength Index (RSI), currently at 62.42, which suggests genuine buying interest rather than short-term speculation. If the positive sentiment holds, DEEP may continue its climb toward the $0.109 mark. That said, traders should be wary of profit-taking, which could cause the price to retreat to around $0.045.
WalletConnect Token (WCT): Newcomer Makes a Splash
Newly launched WalletConnect Token (WCT) is making headlines with a remarkable 43% price spike in just 24 hours. The rapid rise has drawn eyes, but technical indicators suggest a note of caution.
The token’s RSI stands at 81.39—a level generally viewed as overbought. This suggests that the recent surge may not be sustainable in the short term. If buyer momentum slows, a correction toward $0.57 could follow. Still, if bullish sentiment holds strong, WCT might chart new highs in the days ahead.