April 8th, 2025 – Singapore, Singapore

ZKcandy, an AI-driven gaming and entertainment Layer-2 powered by ZKsync and iCandy Interactive, launches its mainnet chain today.

The announcement comes after the successful testnet phase and a $4 million seed round funded by Wemix Pte. Ltd., Animoca Ventures, and renowned institutional and angel investors. With a strong backing behind it, ZKcandy aims to rethink Web3 game development.

ZKcandy focuses on building immersive, interoperable gaming ecosystems where users own their assets and enjoy their unrestrained movement across different titles. ZKcandy uses the best of AI to breathe life into NPCs, create dynamic, unscripted storylines, and provide an individualized experience to each player. The platform focuses on mobile-first Web3 games, competing in a rapidly growing global mobile gaming market. 

During the open testnet phase, users created 2.46 million wallets on ZKcandy. Five games featured on the platform amassed 230,000 active users. This makes it one of the most well-received ZK Chains in ZKsync’s Elastic Network ecosystem. To achieve this, ZKcandy collaborated with names like Layer3, Aethir, Rarible, and Out Of The Nest, onboarding 19 partners in total to grow the project’s ecosystem. 

Immediately after the mainnet launch, gamers will have an opportunity to try eight Web3 games, including Pepe Kingdom, Candy Defense, and Sugar Rush. To bring more to the table, ZKcandy is partnering with game studios to co-develop Web3 games based on Hollywood film IPs. The first Tier-1 Hollywood IP game is already in development.

ZKcandy is looking to expand to 2 million active ecosystem users in 6 months after the platform’s public launch. 

The global mobile gaming market is one of the fastest-growing industries, with its revenue projected to reach $126.1 billion in 2025. Combining iCandy’s expertise of 500+ successfully launched titles across multiple decades with low fees and account abstraction of ZKsync, ZKcandy is uniquely positioned to become a mobile-first Web3 gaming hub.

Kin Wai Lau, CEO of ZKcandy, commented on the event: “We are proud to make ZKcandy available to the general audience. Our testnet has been a huge success, and this is only the beginning. With the $4 million private funding closed in January, we are looking to expand our partnership network by bringing large IPs and AAA mobile games to Web3. Blockchain gaming must be open and accessible to everyone, and it is our goal to ensure that all gamers can enjoy the transparent, secure, and low-friction experience we have to offer. Connecting mobile gaming and Web3 is a solution long overdue, and we are privileged to have the right team to do it.”

ZKcandy was created in partnership with iCandy Interactive and Matter Labs. iCandy Interactive is the largest game developer in Southeast Asia and has worked on 500+ mobile games and world-class award-winning AAA titles such as The Last of Us, Spiderman, Starcraft Remastered, Gears of Wars, and a long list of others. Matter Labs is a contributor to ZKsync, a blockchain technology using zero-knowledge proofs and uniting ZK Chains into an elastic modular network. Offering frictionless interoperability, ZKsync has attracted more than $1.5B in Total Value Locked.

ZKcandy is powered by ZKsync — an Ethereum L2 ecosystem that advances the mass adoption of crypto through ZK-proof technologies. With ZKsync’s tech stack, ZKcandy builds an ecosystem of interoperable games with fast transactions, negligible fees, and top-notch account abstraction features. ZKcandy is a ZK Chain in the Elastic Network, ZKsync’s ecosystem of natively interoperable L2s, so it can easily communicate with other chains, ensuring unrestrained liquidity flows. Other ZK Chain operators include Xsolla, Cronos (Crypto.com), Abstract, and Sophon.

To encourage ecosystem growth after the mainnet deployment, ZKcandy will be launching promotional campaigns on the Layer3 launchpad. The platform has allocated 5% of the total native token supply as a monetary stimulus for the participants. Onboarding developers will also be able to submit applications for the upcoming ZKcandy grant.

About ZKcandy

ZKcandy is an AI-powered Layer-2 aiming to redefine what’s possible in gaming and entertainment. As a ZK Chain built on ZKsync’s Elastic Network, it focuses on building immersive gaming ecosystems where players make the most of today’s AI capabilities. Unscripted storylines, dynamic NPCs, and a deeply personalized experience. ZKcandy delivers mobile-first Web3 games, tapping into the fastest-growing global mobile gaming market.

ZKcandy is backed by iCandy Interactive, Southeast Asia’s largest game studio, with 500+ games, including 180 AAA titles, downloaded 300M+ times. The platform is powered by ZKsync technology, where simplified onboarding and negligible fees lay the ground for mass adoption. $4M+ in funding and strategic partnerships (WEMIX, Animoca Brands, Spartan Group, and others) set ZKcandy to push the boundaries in Web3 entertainment, inspired by the AI revolution.

More information can be found here: ZKcandy Website | Twitter | Discord | Telegram

Contact

ZKcandy Media Relations
media@zkcandy.io

Ethereum price today:

• Ethereum short-term holders have spearheaded the recent selling activity, realizing over $500 million in losses on Monday.
• Rising DeFi liquidations could accelerate ETH’s decline and potentially set off more liquidations.
• ETH could decline to $1,000 if it breaches the lower boundary of a descending channel.

Ethereum (ETH) suffered a more than 27% crash within the past 48 hours, briefly dropping to a two-year low of $1,410 before recovering the $1,500 level on Monday. The decline, per Coinglass data, sparked $257.87 million in liquidations across ETH’s derivatives market during the period.

On-chain data also shows most investors are capitulating, sending ETH realized losses past $500 million, according to Santiment. Most recent selling activity stems from coins purchased in the past month, highlighting short-term holders’ strong reaction to downside price moves.

Furthermore, coins aged 1Y to 2Y are joining the selling but at a modest pace. An increase in selling pressure from this cohort could spark an extended decline in ETH as most buy-the-dip activity has largely flowed into addresses related to them.

ETH spent coins age band. Source: Santiment

ETH risks further downside pressure if DeFi liquidations continue

Increased liquidations across DeFi protocols have partly accelerated ETH’s decline.

Sky, formerly Maker, liquidated a whale’s collateral of 53,074 ETH worth $74 million at the time, per Lookonchain data.

Sky allows users to create and borrow DAI stablecoin using ETH as collateral. The protocol automatically liquidates borrowers’ positions when the value of their collateral drops below a certain threshold.

Another whale with a collateral of 220K ETH added 10K ETH and 3.52M DAI to reduce its liquidation price to $1,119. The whale risks losing all its collateral if ETH plunges below $1,119.

Similar liquidations are visible in lending platform Aave, where the protocol recorded over $162 million in liquidated collateral on Monday, according to @KARTOD Dune dashboard.

Ethereum Price Forecast: ETH eyes $1,000 amid heightened bearish pressure

Ethereum is grappling with the support level near $1,522 after seeing a quick bounce off the lower boundary of a descending channel that extends back to December. The top altcoin could suffer a further decline to the support near $1,000 if it breaches the channel’s lower boundary.

ETH/USDT daily chart

On the upside, ETH could see a rejection near the $1,800 resistance, which is strengthened by a key descending trendline.

The Moving Average Convergence Divergence (MACD) histogram bars are below their neutral level, while the Relative Strength Index (RSI) is in the oversold region. This indicates dominant bearish momentum but with a potential for a reversal.