My Saturday post on ZKsync's post-airdrop traction sparked some criticism, including ZKsync’s founder questioning TokenTerminal's insights and the validity of using transaction counts as data.

Okie, here's more on ZKsync:

• $167M bridge inflow vs. $310M outflow, source: Artemis__xyz
• 67% drop in TPS activity over 3 months, source: L2Beat
• 50% drop in TVL post-airdrop, source: L2Beat
• 41.5% decline in monthly active users (currently 862K), source: TokenTerminal

To stay objective, there's growth in the number of core developers and code commits, and a slight increase in the number of $ZK holders (+3%). However, ALL other metrics are trending downwards.

Given ZKsync's advantage as one of the oldest L2s, a 2.21% market share is disappointing.

I'm not spreading FUD.
I'm just sharing the data.

This is my first post about Cardano on this channel.

Cardano has initiated the first phase of its Chang hard fork, paving the way for its transition from centralized governance to a decentralized, token-based system.

Is Cardano not 100% dead?
(Dumb question, we all know the answer)

These facts perfectly illustrate the speculative nature of Web3:

• Since January, Pumpdotfun has generated over $100M in revenue.
• Sunpump reached $4.5M in revenue less than a month post-launch.
• Polymarket has seen more volume than all NFTs across all chains combined.

Meanwhile, Arbitrum, which controls 40% of L2 TVL, made just $2M in revenue in August.

People want to gamble; tech is sidelined.

TON has reached a significant milestone, surpassing 1 billion transactions on its blockchain.

Remarkably, half of these transactions occurred in the last three months.

As many bloggers are shilling Ethervista (calling it the new Pumpdotfun), transactions fail when trying to remove liquidity from the ETH/USDT pool.

Transfers are also disabled.

Unfortunately, I had to test this myself.

$2K is gone, but I hope my experience saves your money.

FTX plans to distribute $16 billion in CASH to its creditors in Q4 2024.

Analysts suggest that many creditors might REINVEST this cash influx into the crypto market, potentially sparking renewed interest and activity in digital assets.

ICYMI: The $MATIC to $POL upgrade is set for September 4th (tomorrow).

I’ve aggregated everything you need to know about $POL in my new thread.

Enjoy reading!

Global crypto investment products saw $305 million in outflows last week, reversing the previous week's $543 million inflows.

This shift was primarily due to negative sentiment driven by stronger-than-expected U.S. economic data, which reduced the likelihood of a Federal Reserve rate cut.

The best illustration of the liquidity fragmentation issue:

TVL Jan 13, 2021 | TVL Sept 4, 2024

Ethereum 96% Ethereum 58%
Celo 1.07% Tron 10.09%
BSC 0.94% Solana 5.9%
Tron 0.71% BSC 5.29%
Kava 0.43% Arbitrum 3.31%
Terra Classic 0.27% Base 1.87%
Wanchain 0.02% Polygon 1.1%
(... and the list continues)

Btw, we now have a 3K+ club here on Telegram 🫶

Thanks guys for being a part of this amazing journey!

New collection: Early-stage protocols [September 2024]

I now have a monthly research series in which I share my top picks from Moni Discover (no memecoins, only solid and interesting protocols).

Top picks from August are already available!

Have a look.

In August, btw, Ethereum's on-chain lending markets saw their second-largest liquidations ever.

What a crazy month it was…

Just 10 years ago, CoinMarketCap was like this.

Just. Ten. Years. Ago.

New type of memecoin scam: Burnable tokens on Solana.

Here’s a great thread on how to protect your pennies from getting burned.

Unexpectedly, the Aptos blockchain has shown a consistent upward trend in daily active addresses, indicating steady growth in its user base.

I see Aptos more and more frequently in my timeline, so the sentiment might be changing.

As you already know, Chain Abstraction is a hot take.

Here’s my in-depth research on Socket Protocol, a new entrant of the unified UX race with great odds of being at the frontier of ChA.

Have a look!

The Short-Term Holder cohort, representing fresh market demand, is absorbing most of the current market pressure, with their unrealized losses steadily increasing in recent months.

However, these losses, relative to the market cap, haven't yet reached levels indicative of a full-scale bear market and resemble the turbulent period of 2019 instead.

There’s never too much of data. New research compilation:

General
➖ CoinShares: Digital Asset Bi-Weekly Digest
➖ Binance: Web3: The Household Name in the Making
➖ Binance: Blockchain Payments: A Fresh Start
➖ Cointelegraph: Could centralization be the silent killer of AI and cloud innovation?
➖ Galaxy: Weekly Top Stories - 8/30

Market
➖ Cryptorank: Meme Coins Summer: Trends and Insights
➖ Coinbase: Interpreting Token Inflation
➖ Coinbase: Weekly: Divergence
➖ Glassnode: Short-Term Holder Stress
➖ Galaxy: Fed’s Shifting Focus and the Road to Rate Reductions

Blockchains & networks
➖ 4pillars: One Way to Illuminate the Future: Polymarket

Tokens & currencies
➖ CoinMarketCap: What Is DOGS? Telegram’s Native Dog Meme Coin

GameFi & NFTs
➖ CoinGecko: Magic Eden Marks 6th Month as Top Marketplace With 37% Share
➖ Footprint: IVS Crypto 2024 Recap: Insights From Industry Leaders on Web3 Gaming