LayerZero, the cross-chain messaging protocol, is seeing a resurgence in activity, with daily messages rising to 98,000 on Saturday. The surge comes shortly after the protocol announced its second airdrop, breathing new life into the ecosystem.
The latest increase represents a 433% increase from the previous low of 18,400 messages and indicates renewed interest in the protocol. The resurgence is particularly notable given the recent lull in activity on the protocol; daily messages have hovered around 20,000 for several weeks.
Network Activity Increases Due to Airdrop Announcement
The announcement of the second airdrop appears to be the main reason for this sudden surge in activity. LayerZero’s strategic move includes an interesting twist:
Wallets that claimed ZRO tokens in the initial distribution but did not show any subsequent activity will be excluded from this round, incentivizing sustained engagement with the protocol.
By rewarding active users, LayerZero increases engagement with the protocol, helping to grow the ecosystem.
The 30-day claim period for new airdrops will increase user activity on the network.
We will need to monitor LayerZero’s daily activity as users begin to receive their tokens. This increase in activity could translate into long-term adoption and use of the LayerZero protocol. However, as the airdrop excitement fades, network activity may decline.
ZRO could drop if network activity drops, BTC remains below $63,000, or BTC dominance increases.
