The false prosperity of zkSync ecosystem under L2’s market value of 10 billion
The overall TVL of the Layer 2 track has recently touched the tens of billions of dollars mark, and the ecology of the second-layer chain is showing a "thriving" scene. zkSync still ranks third in the L2 track, behind Arbitrum and Optimism, with an on-chain TVL of nearly $500 million. Why do you say that the prosperity of the zkSync ecosystem is false prosperity? Before answering this question, let’s take a look at the recent TVL trends of Arbitrum and OP, the two big brothers on the second floor. According to L2Beat data, Arbitrum TVL fluctuates within a narrow range around US$6 billion; OP has seen many positives recently, TVL has also hit new highs, and ATH has exceeded US$2.5 billion; both TVLs account for nearly 85% of the L2 track, occupying an absolute share Dominance.
It turns out that the Polymarket “decentralized-led chain expansion” rumor that had been making the rounds is going nowhere after all.
On the one hand, three months ago, @Polymarket ’s Engineering Department head made a high-profile declaration on X that converting Polymarket’s chain would be the top priority. On the other hand, @Polygon ’s founder, Sandeep, has repeatedly hinted that Polymarket will not leave Polygon.
As of today, the progress on Polymarket’s standalone chain is still completely opaque—an utter black box.
That year, the notoriously infamous China-hating project ODOS @odosprotocol announced a permanent shutdown, and the comments section was full of regret and respect.
Crypto really has no memory at all.
ODOS was the first crypto project to directly mock Chinese users using images of enslaved Africans. After a TGE, it lasted less than 2 years before announcing it was stepping away from the stage of history. $ODOS
Arthur Hayes: No one understands how to run the game better than me. $HYPE
Multicoin: Really? Compare with me, and you’re just a kid.
After negative public opinion fully fermented into the price, Multicoin Capital’s co-founder @tushar_jain posted on X saying that the earlier unstake of 1,960,000 coins $HYPE was not a sale—just wallet housekeeping.
Fun facts: Robinhood Chain’s net revenue from the sequencer yesterday was greater than the net revenue from all other Ethereum L2 chains’ sequencers combined.
Crazy printing of nearly $200,000 in a single day.
Previously came into contact with the founder of a certain DeFi project
He said that he has an obsession with the project as a project party
A kind of determination that leaves no room for retreat, a different sentiment of not returning until the goal is achieved
So he cherishes the chips in his hands very much, preferring to let the tokens rot in his hands
Today, on a whim, I went to check the price of this project's token
Watching the token drop by over 95% in just a few months and seeing that the founder X's introduction has unknowingly removed the title of founder of XXX
I understand that he has already moved on, bringing his talent and obsession for project-making to new projects
The market capitalization of RWA tracks continues to break new highs, but the dilemma of polarization is becoming increasingly serious.
Among the top ten public chains for on-chain RWA assets, none are high-performance public chains that were born during this bull market cycle.
Ethereum occupies half of the RWA track with a 53% market share, followed by @zksync and @0xPolygon with $2.39 billion and $1.12 billion, ranking second and third respectively.
In addition to EVM chains, @solana and the Move-based public chain @Aptos also made it to the top ten list.
It seems that the mission of promoting RWA in emerging public chains is still a long way to go.
WLFI's token issuance is equivalent to testing the market for other top-tier projects' TGE, assessing the depth, liquidity, and absorption capacity of current market funds, as well as the most important factor—the enthusiasm level of market sentiment.
Projects planning to conduct TGE soon may need to slow down. There are quite a few projects lined up for TGE recently: @LineaBuild, @boundless_xyz, @union_build, @hemi_xyz, @monad …
I really fear the market won't be able to handle it.
Next, we can expect First Lady Melania Trump, President's daughter Ivanka, the President's granddaughter, and the President's dog to launch a stablecoin project.
The U.S. Department of Commerce has put GDP data on the blockchain, symbolizing greater significance than actual meaning.
The established public chains have once again raised their heads, as the GDP data is published on Bitcoin and Ethereum, along with five L1 chains: @solana, @trondao, @StellarOrg, @avax, and @0xPolygon; as well as two leading L2 chains: @arbitrum and @Optimism.
In this round, the high-performance public chains born from this cycle have been completely defeated, and the zk Rollup system has been entirely wiped out.