Here’s where zkSync has beaten Ethereum

For the second time, a roll-up’s every day energetic addresses surpassed these of Ethereum.
Sentiment round ETH remained unfavorable final week, however community progress and funding charges had been excessive.

Ethereum’s [ETH] every day energetic addresses had been stagnant for fairly just a few months. Whereas ETH’s metric plateaued, roll-ups, however, flourished.

Is your portfolio inexperienced? Test the Ethereum Profit Calculator

Artemis posted a tweet on 17 Might mentioning that for under the second time in its historical past, Ethereum mainnet every day energetic addresses had been flipped by a roll-up that settles on to it.

For under the second time in its historical past, Ethereum mainnet every day energetic addresses have been flipped by a roll-up that settles on to it

DAU
🏅 zkSync Period: 358K
🥈 Ethereum Mainnet: 323K
🥉 Arbitrum: 218K pic.twitter.com/iryoDVmgvo

— Artemis 🏹 (@Artemis__xyz) May 17, 2023

Who outshined Ethereum?

The roll-up that overtook Ethereum was zkSync Era. For starters, zkSync Period is a Layer-2 protocol that scales Ethereum.

It was fascinating to see that not solely did zkSync outperform ETH by way of every day energetic addresses, however their every day transactions had been additionally very shut to one another.

Supply: Artemis

Nevertheless, Ethereum was approach forward of zkSync on different fronts. For instance, whereas ETH boasted a TVL of greater than $27 billion, zkSync’s TVL stood at nearly $108 million.

Moreover, Ethereum’s DEX quantity additionally remained significantly higher than that of zkSync’s.

Does zkEVM stand an opportunity?

Polygon’s [MATIC] zkEVM not too long ago made information as its transaction quantity reached a brand new all-time high. Not solely that, however the roll-up’s TVL additionally registered progress of greater than 100%.

Nevertheless, when put head-to-head in opposition to ETH and zkSync, zkEVM’s efficiency was not comparable. As per Artemis, zkEVM’s every day energetic addresses and every day transactions had been each significantly decrease than that of the opposite two.

Supply: Artemis

A take a look at Ethereum’s state

ETH’s worth motion has turned sluggish of late. In accordance with CoinMarketCap, ETH’s worth moved marginally during the last week.

On the time of writing, ETH was buying and selling at $1,824.01 with a market capitalization of over $219 billion. Ethereum’s social dominance remained low for a lot of the days throughout final week.

Destructive sentiments across the token dominated the market as evident from its weighted sentiments. Nevertheless, it was fascinating to see that the traders had been assured in ETH as its provide held by high addresses went up.

Supply: Santiment

Learn Ethereum’s [ETH] Price Prediction 2023-24

ETH’s well being stays high-quality

Although the market sentiments round ETH had been unfavorable, its community well being seemed first rate. As an illustration, Ethereum’s community progress was excessive, suggesting that new addresses had been created.

Furthermore, its velocity additionally adopted the identical pattern. The next velocity implies that a token is utilized in transactions extra typically inside a set timeframe. ETH’s Binance funding charge was additionally inexperienced, reflecting its demand within the futures market.