ZKC surged 66% after Upbit lifted its investment warning, with trading volume spiking over 1,300% amid renewed investor confidence.
While most of the top cryptocurrencies like Bitcoin BTC $71 261 24h volatility: 3.1% Market cap: $1.43 T Vol. 24h: $55.27 B and Ethereum ETH $2 070 24h volatility: 2.5% Market cap: $249.73 B Vol. 24h: $23.95 B bled red on October 17, Boundless (ZKC) enjoyed a major rally. The token soared 66% in just 24 hours, currently trading around $0.3039 with a $61 million market cap.
The sudden recovery followed South Korea’s largest exchange, Upbit, lifting its “investment warning” on the token.
The move appears to have reignited market enthusiasm, leading to a 1,300% surge in ZKC’s 24-hour trading volume.
DAXA Warning Lifted After Two Weeks of Uncertainty
Earlier this month, the Digital Asset Exchange Association (DAXA) flagged ZKC as an investment warning. The decision prompted Upbit to halt token deposits and initiate an internal review.
Concerns primarily centered on the project’s tokenomics transparency, including discrepancies in the reported token supply and information disclosure. The warning triggered a sell-off that saw ZKC’s price plummet to $0.13, wiping out nearly $150 million in market capitalization.
Boundless Foundation’s Clarification
The Boundless Foundation addressed the controversy, stating that all tokenomic adjustments were finalized before the Token Generation Event (TGE). The foundation noted that the updates were aimed at creating a more community-driven ecosystem.
Boundless community:
We want to update you on our response to DAXA’s October 2, 2025 notice.
Thank you for your patience. The Foundation has been working diligently to provide a fulsome response to DAXA. The Foundation continues to be committed to transparency, integrity and…
— Boundless (@boundless_xyz) October 5, 2025
These included increasing the community allocation from 1.5% to 6.85%, expanding the airdrop share from 4.5% to 6.63%, and reducing the ecosystem fund from 31% to 23.52%.
The strategic fund’s unlock period was also extended from one to three years to display long-term commitment.
After reviewing clarifications from the Boundless Foundation, DAXA has now lifted the red flag. This has cleared the way for ZKC trading and deposits to resume on Upbit.
DAXA is a consortium of South Korea’s top exchanges including Upbit, Bithumb, Coinone, and Gopax. It acts as a self-regulatory body that oversees potential risks in the crypto market.
ZKC Investor Confidence Returns
With regulatory clarity restored, ZKC has quickly regained investor attention. The project, backed by top-tier investors such as Figment Capital, Bain Capital, Delphi Ventures, and Galaxy, is now seeing strong dip-buying momentum after last week’s crash.
Market analysts believe ZKC’s recovery could extend further. Many are predicting that it could be the next big crypto and potentially hit $1 soon, especially if altcoins start a fresh rally.
The cryptocurrency previously hit its peak of $2.13 during the Boundless mainnet launch and token airdrop on September 15.
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