According to BlockBeats, LayerZero's daily transaction count has seen a rapid decline since the beginning of May. As of June 21, the number of transactions stands at 12,137, a significant drop from the peak of 497,747 transactions in July 2023. This represents a decrease of 97.56%.
LayerZero, a blockchain platform, has been experiencing a downward trend in its daily transactions for nearly a year. The peak in July 2023 marked a high point for the platform, but the subsequent months have seen a steady decline. The current transaction count is the lowest it has been since the peak, indicating a significant drop in activity on the platform.
The reasons for this decline are not specified. However, it is clear that LayerZero is currently facing a challenging period. The platform will need to address this issue to regain its previous transaction levels and maintain its position in the blockchain industry.