How this Ethereum scaling solution is off to a great start in 2024

Celsius Network Unstakes Ethereum Holdings Amid Reorganization Efforts

zkSync Era clocked more than 1.5 million daily transactions in the last 24 hours.
zkSync Era hosted the most number of daily active users over the past two months.

Layer-2 (L2) blockchain zkSync Era extended its dominant performance into 2o24 as well, consistently processing more transactions than any other Ethereum [ETH] scaling solution.

zkSync Era leads the pack

The zero-knowledge rollup (zk-rollup) clocked more than 1.5 million daily transactions in the last 24 hours, according to a post by Ethereum Daily.

Traditional powerhouses like Arbitrum [ARB] and Optimism [OP] stood at the second and fourth spot, respectively.

Top 5 Rollups in Daily Transactions:

1. zkSync Era
2. Arbitrum One
3. Mantle
4. OP Mainnet
5. Arbitrum Nova pic.twitter.com/CQKRdRPCya

— Ethereum Daily (@ETH_Daily) January 7, 2024

Further scrutiny by AMBCrypto revealed a month of domination by the L2 network.

According to data fetched from L2Beat, more than 40 million cumulative transactions were settled on zkSync Era in the last 30 days, the most by any Ethereum L2 solution.

Source: L2Beat

zkSync Era also provided a high average throughput of 16.11 transactions per second (TPS) in the last 24 hours.

In fact, zkSync Era has been the only L2 network that logged double-digit TPS consistently over the last month. It reached a peak of 62.07 TPS averaged over a single day on the 16th of December.

zkSync Era has also dominated other aspects of network activity. It hosted the most number of daily active users over the past two months, as per AMBCrypto’s analysis of Artemis data.

The number of unique active addresses was 399.89K on the 6th of January, more than the combined tally of the next four ranked in the list.

Source: Artemis

zkSync Era fares lower in TVL

Despite a strong showing on network fundamentals, zkSync Era has lagged in attracting decentralized applications (dApps) and, with them, associated liquidity.

The total value locked (TVL) on the rollup was just $541 million as of this writing, significantly lower than Arbitrum, OP Mainnet, and even Base.

Source: L2Beat

Will we see an airdrop in 2024?

Strong network activity almost always fuels speculations of a potential AirDrop. This is despite the fact that zkSync has made no official announcements, or even hinted at such a scenario.

Airdrops have been a debatable topic within the cryptocurrency community. While some treat them as marketing gimmicks, the proponents believe they can have a strong impact on user engagement and overall project success.

Steve Beckford

Steve Beckford

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