Over 3.3 million transactions have been conducted on the zkSync network since its March 24 launch. However, some say the launch has been muted relative to the hype. By shauryamalwa.
shows over $69 million worth of ether and nearly $30 million in USD Coin stablecoins have been locked on the network. The amount is likely distributed among several zkSync-based projects for purchasing ecosystem tokens or providing liquidity to exchanges on the network.Over 3.3 million transactions have been conducted on the network since its March 24 launch. The network has a speed of 4.4 transactions per second.
These features are seen as a key advance in speeding up blockchain transactions and reducing the cost of network activity. DeFiLlama data shows SyncSwap and Mute, both decentralized exchanges , hold over $30 million in locked tokens. Mute’s native MUTE tokens have a market capitalization of $47 million, while SyncSwap has not issued tokens as of early April.
Traction on these memecoin tokens has been tepid so far, with highly-volatile prices and market capitalizations of under $5 million.“The recently launched zkSync Era mainnet is a sign that the evolutionary trend in the overall blockchain ecosystem is unimpeded, however, the low number of projects building on it is a sign that the Web3.0 world isn’t fully prepared to welcome this innovation for now,” said Maia Benzimra, head of Institutional Marketing at SpoolDAO, in a Telegram message.
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