Value locked in zkSync Era reaches $250 million ─ 7 million transactions processed since launch | coindesk JAPAN

The Ethereum Scaling Blockchain “zkSync Era” has raised $245 million (approximately 32.5 billion dollars) in about three weeks after its release, as investors anticipate new projects built on the budding network. Yen) collected more.

Data from L2Beat, which tracks the activity of a Layer 2 network built on the Ethereum blockchain, shows that since the network first went live in late March, more than 70,000 Ethereum (ETH) and $81 million (approximately $10.8 billion) have been sold. Yen) worth of USD coins (USDC) and 8 million dollars (about 1.06 billion yen) of MUTE are locked in zkSync.

Tokens on the zkSync Era network are increasing in value. (L2Beat)

Total Value Locked (TVL) will be distributed across multiple zkSync-based projects to purchase ecosystem tokens and provide liquidity to exchanges on the network.

Among zkSync-based services, decentralized exchange (DEX) SyncSwap leads with more than $64 million in TVL, according to DefiLlama data. Velocore is next at $25 million, and Mute at $15 million.

Users can earn up to 80% annual rewards for providing liquidity or executing trades on these platforms, which drives the inflow of funds into zkSync and MUTE, Mute’s native token. increasing the value of

Data suggests that on-chain derivative trading is not yet popular among users. The zkSync-based derivatives DEX, Onchain Trade, has a TVL of just over $2 million, with zero futures volume in the last 24 hours. However, spot trading has recorded a turnover of $600,000.

Meanwhile, memecoins, such as popular tokens Dogecoin (DOGE) and Shiba Inu Coin (SHIB), have seen repeated cycles of price spikes followed by declines, according to data from DEXTools.

zkSync Era has processed over 7 million transactions to date, showing that the network can handle 3.5 transactions per second.

The zkSync name comes from ZK Rollup, a blockchain scaling system based on a cryptographic technique known as zero-knowledge proofs. The feature is seen as a key advancement to speed up blockchain transactions and reduce the cost of network activity.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
| Image: CoinDesk
｜Original: Ethereum Layer 2 Network zkSync Era Jumps to Nearly $250M in Locked Value