- Activity on zkSync began to increase, new developments were also made on the network.
- The spike in activity may be due to speculation surrounding the airdrop.
zkSync gained a lot of traction after launch. Despite some past setbacks related to block production, the protocol seems to be back on its feet.
Users become interested
According to NansenAI data, net deposits from over 450,000 unique wallets were added to the network, reaching $250 million.
A significant portion (41%) of activity is new wallets created in the past month, possibly indicating a sense of caution when interacting with a new chain, or a motivation to participate in airdrop farming.
In addition, most deposits per wallet remain below $1,000, with 44.5% of such deposits being less than $100.
Source: Nansen
After the launch of the zksync era, the number of daily unique depositors peaked at over 41,000 on March 26. Since then, however, this number has been gradually declining. Whales also showed similar behavior.
Source: Nansen AI
This increase in the number of unique depositors helped increase zkSync’s TVL. According to data from L2Beats, TVL on the network has grown from $235 million to $257 million over the past week.
Source: L2Beat
Some new technology
zkSync’s new changes to its technology may also affect users’ interest in the protocol. According to zkSync’s April 26 tweetthey would add Account Abstraction to the protocol.
zkSync Era’s account abstraction simplifies the user experience for developers by upgrading external accounts to smart contract accounts. This allows developers to provide features such as biometric verification and social recovery, automate payments, and reduce transaction approval friction.
Batch processing allows users to sign multiple transactions at once and take advantage of automatic and scheduled transfers while maintaining their own custody.
However, it is important to note that the high activity on the network could also be due to addresses anticipating an airdrop.
There may be a drop in activity on the zkSync network if users start flocking to other networks after the airdrop. Protocols like Arbitrum, Optimism, and StarkNet could attract these users.
