- While other roll-ups plateaued, Starknet’s TVL skyrocketed over the past 30 days.
- The roll-up expects a new update to launch on August 7, 2023 on the testnet.
Rollups have become one of the hottest spaces in the crypto industry in recent months. While most eyes were focused zkSync era And Polygon [MATIC] zkEVM due to airdrops and NFT launches, Starknet was silently onboarding new users to the network.
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Not just roll-ups, but Starknet also managed to outperform a layer-2 in a key stat. In addition, there were also seven new developments in the roll-up ecosystem that could drive further growth in the coming days.
Starknet steps up its game
Deebs DeFi, a popular Twitter handle that publishes on-chain insights into crypto currencies, recently posted a tweet highlighting Starknet’s achievements. The tweet pointed out that the rollup surpassed Optimism and ZkSync Era in terms of daily active addresses. This happened when the rollup’s daily active addresses hit the 400,000 mark on July 28, 2023.
There’s a Layer 2 chain this month that’s up almost 90% in TVL.
But nobody is talking about it.
This is why you should be 🧵(1/8) pic.twitter.com/FHmzyquoST
— Deebs DeFi 🛰 (@Deebs_DeFi) August 5, 2023
The sudden upward trend in the metric directly suggested that Starknet’s adoption and popularity was increasing. A look at the current state of the stat revealed that all three networks had similar active addresses. During the time when Starknet’s active addresses surpassed those of OP and zkSync Era, daily transactions also skyrocketed.
Daily transactions on Starknet rose to 560,000 in one day. Again surpassing ZkSync and approaching Optimism, reflecting high usage. In the midst of it all, zkEVM seemed to have taken a backseat as the number remained significantly lower than the rest.
Source: Artemis
If we mention the performance of Staknet, while many other L2s and roll-ups have stagnated, Starknet is also up 90% in TVL. This meant that the roll-up’s DeFi space was growing.
In fact, the TVL rose from 14 million to more than 26 million in the space of 30 days. A look at the chart hinted that Starknet could soon overtake zkEVM in terms of TVL.
Source: Artemis
Starknet’s future looks promising
While the roll-up statistics recorded growth, several developments also took place in the ecosystem, which may support the uptrend. Starknet Insider’s latest tweet revealed a few notable ones.
The #Starknet ecosystem is experiencing rapid growth and exciting updates are announced regularly 🗞️#StarknetInsider is pleased to report the most important events in the @Starknet ecosystem in the past 72 hours. 📰
Let’s see 👇🧵 pic.twitter.com/RjA4KSdWyf
— Starknet Insider✨🐺 (@InsiderStarknet) August 5, 2023
For example, Tsubasa Starknet landed on Starknet, offers a sensational on-chain gaming experience that combines football, fantasy and anime.
Developments also took place in the NFT space as SPONZI launched an exclusive 111 OG NFT collection on Starknet. These could attract new users to the network and increase its adoption in the coming days.
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In addition, the v.0.12.1 upgrade of the network was expected to hit the testnet on Monday. The update reduces the sequencer processing load by 50%. It would also increase the processing speed of roll-up transactions, which looks promising.
The Starknet v.0.12.1 upgrade is expected to hit the testnet on Monday!
Expected changes:
▫️ The sequencer processing load is reduced by 50%.
▫️ Failed transactions are included in the block.
▫️ Unsuccessful transactions will be charged.
▫️ Significant TPS increase. pic.twitter.com/onIbxkjRJC— ZkCampus (@ZkCampus) August 5, 2023