ZKP has been on a steady rise after launching on a major exchange, with a single-day increase of over 85%, pushing the price to a new high of $0.255, then retreating to around $0.19. This wave of market activity is actually the convergence of several forces: the liquidity released by the exchange listing, the project's own branding as a "decentralized oracle + privacy verification," and early support from institutions like Sequoia Capital—these elements exploded together, short-term attracting a lot of attention.

But a closer look at the data is a bit sobering. ZKP has been tagged as a "seed" project, indicating significant volatility risk; the RSI indicator is flashing signals, and the pressure for a correction is gradually building; while long positions in the holdings structure are showing decent unrealized gains, the potential unrealized losses from short positions could trigger a short squeeze. In plain terms, this kind of market movement driven by "listing effects" and technical stories relies heavily on the actual ecosystem development to sustain it; otherwise, it’s easy to lose momentum.

A common pattern in the crypto market is repeating: projects gain favor from major exchanges and immediately enjoy liquidity premiums, but their future performance ultimately depends on real progress. For investors, identifying short-term catalysts is just the first step; the more difficult part is judging whether the project can truly move beyond the "proof of concept" stage and reach "ecosystem deployment." That hurdle is right there, and it depends on who can get past it.