TOP WHALE BRIDGING USERS ON ZKSYNC ERA HOLD 32% OF CHAIN TOKENS, INDICATING IDLE FUNDS
On April 28th, according to data disclosed by Nansen Research on social media, the top 25 top whale bridging users on zkSync Era currently hold 32% of the total holdings of on chai
On April 28th, according to data disclosed by Nansen Research on social media, the top 25 top whale bridging users on zkSync Era currently hold 32% of the total holdings of on chain tokens, mainly concentrated in ETH, USDC, and MUTE, indicating that there is still a large amount of “idle funds” on zkSync. In addition, data shows that the activities on the zkSync Era chain mainly revolve around DEX, especially the liquidity providers (LPs) on SyncSwap, iZUMi Finance, Mute.io, and Velocere. Currently, most LPs are concentrated in the ETH/USDC pool, while idle funds on the zkSync Era chain are still waiting to be deployed.
Data: 25 giant whales on zkSync Era hold 32% of the tokens on the chain, with a large amount of “idle funds” on the chain
Introduction
Data disclosed by Nansen Research on social media on April 28th shows that the top 25 whale bridging users on zkSync Era hold a significant portion of the total holdings of on-chain tokens. This article will discuss the findings of this report, focusing on the concentration of holdings in ETH, USDC, and MUTE, the existence of idle funds on zkSync, and the activities on the zkSync Era chain, particularly within the DEX and liquidity provider (LP) arena.
Concentration of Holdings
According to Nansen Research’s report, the top 25 whale bridging users on zkSync Era control 32% of the total holdings of on-chain tokens. The majority of these holdings are concentrated in ETH, USDC, and MUTE. This concentration of holdings highlights the power that these bridging users possess in regards to the movement of these assets, as well as their potential impact on market trends.
Idle Funds on zkSync Era
The report also indicates that there is still a significant amount of “idle funds” on the zkSync Era chain. These idle funds, which have not been deployed to any specific use, represent a large pool of potential assets that could be utilized to drive market activity and growth. The existence of these idle funds indicates a need for better strategies and mechanisms to encourage their deployment, which would benefit both the network and the users.
Activities on zkSync Era Chain
The data shows that activities on the zkSync Era chain mainly revolve around DEX, with liquidity providers (LPs) on SyncSwap, iZUMi Finance, Mute.io, and Velocere being the most active. Currently, most LPs are concentrated in the ETH/USDC pool, indicating a preference for higher liquidity pairs. However, the distribution of LPs across other pairs, such as MUTE or DAI, is relatively low. This presents an opportunity for LPs to diversify their holdings across different pools and for users to benefit from a more varied selection of assets.
Conclusion
The findings of Nansen Research’s report on the zkSync Era chain highlight both the potential and challenges presented by the Concentration of holdings and idle funds in a blockchain network. While the concentration of holdings by bridging users can potentially affect market trends, the existence of idle funds represents a significant pool of potential assets. These findings point to the need for better strategies and mechanisms to encourage their deployment. Additionally, the activities on the zkSync Era chain reveal a preference for higher liquidity pairs, presenting an opportunity for users and LPs to diversify their holdings across different pools to maximize their benefits.
FAQs
Q1: What is zkSync Era?
A1: zkSync Era is a blockchain network that uses zero-knowledge proofs to enable faster and cheaper transactions and reduce the overall cost of participation in decentralized finance.
Q2: What are whale bridging users?
A2: Whale bridging users are large players in the blockchain market that move significant amounts of assets between blockchains or within a single chain.
Q3: What are liquidity providers?
A3: Liquidity providers are individuals or entities that deposit tokens into a liquidity pool on a decentralized exchange (DEX) to facilitate trades, earn fees, and provide liquidity to the pool.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/ai/19733.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Billionaire Investor Warns of Possible Bank Run in Silicon Valley
According to reports, billionaire investor Bill Ackman disclosed on social media that a source he trusted revealed that Silicon Valley bank depositors might get about 50% of the funds next Monday (March 13)/Tuesday (March 14), and the balance would get other deposit funds according to the realized value in the next 3-6 months. If this is proved to be true, it is expected that a large number of banks without deposit insurance will run from Monday morning, No company will risk losing a dollar of deposit because this risk has no return. Bill Ackman believes that the Federal Deposit Insurance Corporation of the United States should guarantee all bank deposits and suspend them on Sunday night before the opening of the Asian market, and run the process to recapitalize and manage the liquidation of the UST and MBS portfolios to reinvest them in short-term UST. In addition, Bill Ackman said that he had no direct contact with Silicon Valley banks….
-
Why does ETH need to switch from PoW to PoS (Is it beneficial for ETC to switch to PoS)?
Why does ETH need to switch from PoW to PoS? According to the Ethereum communit
-
Andrew “Zyori” Campbell Joins Laguna Games as Product and Market Growth Director
On February 21, Laguna Games, the developer of Crypto Unicorns, an NFT game based on Polygon, announced today that Andrew \”Zyori\” Campbell had been appointed a…
-
What kind of mine can only be dug with n cards (can only be dug with a card)
What mines can only be dug with n cards? What mines can only be dug with n cards I. How are the computing power of Bitcoin and Ethereum limited? How to change the hash rate from 1G to 3G? 2、 What is the size of Bitcoin blocks? 3、 What is N card digging? 4、 What projects can generate more than 5% of the effective computing power of the entire network? 5、 Which projects have secure and controllable contract codes? 6、 What causes n cards to be unable to conduct transactions online? 7、 Why do you say you need to use an N card to mine There are two reasons for this type of problem: on the one hand, it is because coin circle users generally have some unknown problems; On the other hand, many ordinary people are not familiar with virtual currencies such as nCard, so they are unable to participate. NCard, on the other hand, provides services to investors…
-
The Truth About HashKey EcoPoints (HSK) Listing: Separating Fact from Fiction
On April 26th, HashKey Group tweeted that since the announcement of the ecological points HashKey EcoPoints (HSK) news, there have been some exchanges selling HSK in the market. We
-
Bhutan’s Sovereign Wealth Fund Invests Millions in Bitcoin: But Why the Secrecy?
On April 17th, according to court documents, in the past year, the Royal Government of Bhutan\’s sovereign wealth fund Druk Holdings&Investments has invested tens of millions of dol
-
Waves Founder Sasha Ivanov reminds Users to Lock POWER for Waves DAO
According to reports, Sasha Ivanov, founder of Waves, tweeted that the circulation of POWER tokens was only 10000, reminding users to lock POWER to participate…
-
Creepz NFT Series to Undergo Comprehensive Upgrade for Ecological Acceleration Development
It is reported that Overlord announced on social media that the Creepz NFT series will be upgraded comprehensively to promote the ecological acceleration devel…
-
Musk Announces Twitter Algorithm Upgrades
According to reports, Musk said that Twitter algorithm needs and will be significantly upgraded. We will still publish it later this month, but please expect t…
-
What does the CTC trading mode mean (CTP trading channel)
What does ctc trading mode mean? According to data from CoinMarketCap, Ctc has increased by 5% in the past 24 hours. This means that the price of Bitcoin has dropped by about 40% after soaring from $40000 to more than $500 million, while Ethereum has dropped by more than 60%. Therefore, if the trading model is understood as a “long/short contract”, it can be considered that there are currently two main types of exchanges in the market that trade through BTC, and the other is to use BTC as collateral to complete the transaction In addition, due to the significant price fluctuations of Bitcoin, trading methods are not as convenient and fast as traditional financial markets. For example, Tether converted 100 million USDT into 1 billion XRPs ctp trading channelThe ctp trading channel, founded by Li Qiyuan, a doctor of Cryptography at Peking University, is a digital asset circulation, transfer and payment platform developed based on blockchain technology. The system…