Top 25 Whales On zkSync Era Hold 32% Of The Tokens

Key Points:

• The top 25 zkSync Era gigantic whale bridging users presently possess 32% of the total token holdings on the chain.
• Therefore, the majority of chain activity revolves around DEX.
• The majority of LPs are now concentrated in the ETH/USDC pool, while idle capital on the network is still waiting to be deployed.

zkSync Era is the first zkEVM to reach mainnet, which is a significant milestone for the zk-rollup sector as a whole. Thus far, optimistic rollups, such as Arbitrum and Optimism, have dominated the L2 market. Recent data, however, suggest “concentration” on the network.

According to the data disclosed by Nansen Research on social media, the top 25 top giant whale bridging users on zkSync Era currently own 32% of the total token holdings on the chain, mainly concentrated in ETH, USDC, and MUTE, indicating that there is still a large amount of “idle capital” on zkSync.

In addition, data shows that activities on the zkSync Era chain mainly revolve around DEX, especially liquidity providers (LPs) on SyncSwap, iZUMi Finance, Mute.io, and Velocore. Currently, most LPs are concentrated in the ETH/USDC pool during the zkSync Era chain. The idle capital on the network is still waiting to be deployed.

What are early @zksync whales doing on-chain?

Top 25 early whale bridgers to zkSync Era have an average of 32% of their total holdings on zkSync

These holdings comprise spot ETH, USDC, and a distant 3rd of MUTE, signaling lots of idle capital sitting on zkSync pic.twitter.com/tv8KJM2WVS

— Nansen Research (@nansen_research) April 28, 2023

iZUMi Finance, a one-stop Liquidity-as-a-Service (LaaS) DeFi protocol, has announced a $22 million fundraising round. The funds will be utilized to promote the early liquidity of its zkSync Era network on-chain Order Book DEX (Decentralized Exchange) product, iZiSwap Pro.

The name was changed from zkSync 2.0. Account Abstraction and EVM support through Solidity and Vyper are among the new features included in the first version of zkSync 2.0. zkSync 2.0 may be used with smart contracts, as well as the Zinc native programming language and zkPorter.

zkSync has not yet issued a token at the time of writing. However, Matter Labs has revealed that the token will be launched one year after the mainnet. As a result, there might be a chance for consumers to support and utilize early goods and projects in the ZkSync Era ecosystem in order to be Airdrop, like Arbitrum and Optimism, were.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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