zkSync overtakes Ethereum in monthly transaction volume, thanks to Ordinals analogue

Monthly transaction volume in zkSync Era surpassed Ethereum’s figure, driven by rising popularity of the Ordinals analogue.

The number of transactions in the L2-network over the last 30 days stood at 34.67 million. The corresponding figure for the second-largest cryptocurrency by market cap was 34.16 million. The Arbitrum figure was 31.43 million.

Analysts at The Block link the surge in on-chain activity in zkSync to the launch of ‘inscriptions’. A record transaction volume was recorded on December 16, when an Ordinals analogue appeared in the L2 network.

According to Hildobby’s Dragonfly dashboard on Dune, that day inscriptions accounted for 4.6 million of zkSync’s 5.3 million transactions.

There are Ethereum, Avalanche, Fantom and other blockchains.

In late December, the zkSync Era paused block production. The cause was an error in computing the network state update.