zkPass price surges nearly 53% after Upbit and Bithumb listings, Binance event fuels momentum
The price of zkPass (ZKP) recorded a strong rally on December 26, rising nearly 53% in just 24 hours as renewed trading activity spread across the market. The sudden surge came following high-profile exchange listings in South Korea and an ongoing trading competition on Binance that significantly increased volume and investor attention.
At the time of writing, ZKP was trading around $0.2093, off a recent low near $0.149. The move marked one of the strongest short-term performances among newly listed altcoins this week, attracting interest from both retail traders and short-term speculators.
According to Hokanews analysis, the rally reflects a convergence of three key factors: increased access to exchanges in Asia, promotional incentives linked to Binance, and a recovery phase following strong post-airdrop sales earlier this month.
Major listings on Korean stock exchanges drive increased liquidity
The most immediate catalyst behind the rally was zkPass’s listing in Upbit and Bithumb on December 26. These two platforms dominate the South Korean cryptocurrency market and are often seen as powerful price accelerators for newly listed assets.
Upbit, in particular, consistently ranks among the highest volume exchanges in the world, regularly processing over $1 billion in daily trades. A listing on such a platform dramatically improves the visibility, accessibility and perceived legitimacy of a token, especially among Asian retail traders.
Post-listing market data showed an immediate jump in ZKP liquidity, with bid-ask spreads tightening and buy orders increasing across multiple trading pairs. Listings on South Korean exchanges have historically played a decisive role in determining short-term prices, often triggering strong capital inflows as new segments of investors gain access to a token for the first time.
For zkPass, the listings marked a significant expansion beyond its initial trading venues, positioning the token in front of one of the most active retail crypto markets globally.
Binance trading competition amplifies buying pressure
In addition to listings on Korean stock exchanges, zkPass is currently listed in a trading competition organized by binance on the BNB smart chain. The event, which began on December 23 and will run until January 6, offers a total reward pool of 1.25 million ZKP tokens.
Trading competitions are known to create artificial demand by incentivizing volume rather than long-term holding. In this case, on-chain and exchange data indicates that ZKP’s trading volume increased by more than 280% during the early stages of the campaign.
Higher volume helped absorb sell orders that had previously weighed on the token following its airdrop. As selling pressure eased, price momentum quickly increased, allowing ZKP to break out of its recent consolidation range.
Beyond the mechanical impact of increased volume, Binance’s promotion of competition also improved zkPass’s credibility. Visibility on Binance platforms often attracts short-term traders who closely monitor exchange-driven campaigns for momentum opportunities.
Recovery after post-airdrop sell-off
Prior to the current rally, zkPass had seen notable downward pressure following its airdrop on December 19. As is common with newly distributed tokens, many early recipients moved quickly to sell their allocations, resulting in a roughly 25% price drop shortly after going public.
This selling phase pushed market sentiment into fear territory. According to broader indicators of crypto sentiment, the fear and greed index increased only modestly from 21 to 27 during this period, indicating caution rather than optimism.
However, Hokanews notes that strong air sales often remove weaker hands from the market, creating the conditions for recovery once new demand emerges. The combination of listings on Korean exchanges and Binance incentives appears to have provided the spark needed to reverse sentiment.
As the selling pressure eased, ZKP began to form higher lows, setting the stage for the strong breakout seen over the past 24 hours.
Technical signals turn bullish
From a technical perspective, zkPass’s recent price action suggests a possible trend reversal. Chart data shows that ZKP recovered strongly from oversold conditions, and momentum indicators tilted in favor of buyers.
Previously, the Relative Strength Index had fallen near 14, an extreme oversold reading that often precedes corrective rallies. The subsequent price increase indicates that the market responded to these conditions with aggressive buying.
Meanwhile, the moving average divergence and convergence indicator has turned positive, indicating strengthening bullish momentum. ZKP is now testing a key resistance zone around $0.22. A decisive break above this level could open the door to a move towards $0.25, according to short-term technical projections monitored by hokanews.
Still, analysts warn that resistance levels often attract profit-taking, particularly when driven by promotional events rather than organic adoption.
Can the rally continue?
It remains uncertain whether zkPass will be able to maintain its upward momentum. The current rally has been driven primarily by stock market listings and limited-time trading competition, both of which are temporary catalysts.
Historically, assets that increase during promotional campaigns often experience a cool-down phase once incentives expire. Traders who entered during the early stages of the rally may look to lock in profits as the Binance competition nears its conclusion.
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| Source: CoinMarketCap |
That said, the market structure has improved compared to the beginning of the month. If ZKP can hold above the $0.18 support level, it may establish a stronger foundation for continued upside. A confirmed break above $0.22 could attract additional momentum traders and push prices towards the $0.25 range.
Conversely, an increase in sales volume after competition ends could trigger a short-term correction, particularly if overall market conditions weaken.
Broader market context
The zkPass rally is developing against a backdrop of mixed sentiment across the crypto market. While top assets remain volatile, traders continue to look for high beta opportunities among newly listed tokens, especially those benefiting from regional exchange expansion.
South Korea’s influence on short-term price movements remains significant, with listings on platforms like Upbit and Bithumb continuing to act as powerful liquidity events. Combined with promotions led by Binance, these factors can create rapid price dislocations, both up and down.
For zkPass, the next few days will likely determine whether the token moves from event-driven momentum to a more stable post-listing phase.
Conclusion
zkPass’ nearly 53% price rise reflects a classic post-listing rally driven by increased stock market access, increased trading incentives, and improving sentiment following a post-airdrop sell-off. Listings on major South Korean exchanges and a trading competition from Binance dramatically increased visibility and volume, allowing the token to recover from recent lows.
While technical indicators currently favor buyers, the sustainability of the move will depend on ZKP’s ability to maintain support levels once promotional activity fades. While hokanews continues to monitor the market, traders are advised to exercise caution, recognizing that short-term event-driven rallies may be followed by periods of consolidation or correction.
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