Cysic (CYS) fluctuated 41.1% in 24 hours: Mainnet upgrade VenuszkVM system directly drives movement

Volatility Brief

In the past 24 hours, the price of CYS hit a low of $0.1687 and a high of $0.238, currently trading at $0.22705, with an overall amplitude of 41.1%. Trading volume surged significantly to approximately $63.76 million, showing a sharp increase compared to normal; net CEX outflow was about $63,000, but overall net inflow reached $264,200.

Analysis of the Cause of the Fluctuation

- Mainnet Upgrade Announcement: On April 10, Cysic officially announced a mandatory upgrade of its mainnet proof system to its self-developed Venus zkVM, accompanied by a 96-hour $2,000 rewards campaign, directly triggering dramatic price swings and a surge in trading volume.

- No significant on-chain transfers by whales or abnormal capital inflows were observed; the fluctuation was mainly catalyzed by the upgrade event.

Market Opinions and Outlook

The prevailing sentiment in the community is cautious. Trading analysis suggests a short-term bearish dominance (with support around $0.2025), but if a rebound occurs, the target could be the $0.2299 supply zone. Analysts highlight post-upgrade liquidity risks and potential 30% swings, advising to wait for confirmation signals.