CZ says that the Crypto region in response to new chains requires more daps instead of new chains rather than new chains, how the new chain struggles.
Former Binance CEO Changpeng “CZ” Jhao instead of creating new blockchain networks emphasized the need to focus more focusing on Crypto industry builders to develop decentralized applications or DApp.
“More dapps are required instead of chain,” CZ recently written Post,
CZ’s comment was made in response to a statistical shared by a mesari researcher @Defi_monk, who are experiencing the new blockchain declining after their respective token generation events.
As data From Mesari, Starknet’s token cumulative returns have decreased by 87% and Dymension (Dym) has experienced the same decline. Meanwhile, Blast (Blast) has decreased by 85%, the mode has decreased by 70%. Even big names such as Berachain (Bera) and Scroll (SCR) have seen a decline of 59% and 50%.
The only exception to the list is hyperlicid (hyp), which has experienced a sufficient increase of 1,100% since TGE.
Mesari researcher said that the market has recently seen about 10 billion dollars in a long liquidity, and by the end of April, tokens worth $ 17 billion have entered the market. This indicates that the crypto market is saturated by the emergence of more and more layer 1 blockchain and layer 2 solutions.
“The market can no longer absorb the execution environment that does not add any value,” the researcher said.
Many users were early to agree with CZ, saying that the market has too much series and requires more decentralization to help the crypto industry grow.
As the previously reported by Crypto.news, Berachain did one of the largest aircrafts this year with the release of his much awaited Mennet. However, the value of the token fell as the insider, began dumping tokens, pulling the price down to at least 63%.
