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    ERC20 Tokens to zkSync

    ZkSync is a scaling solution for Ethereum that is live on mainnet. Some of the main features of ZkSync are the extremely low transaction fees and trustless protocol design.

    Intro

    Task

    • Users can also deposit ERC20 tokens into ZkSync.
    • Which ERC20 tokens have been deposited the most (in $ volume and total count) in the last 60 days?.
    • Visualize and explain both findings.

    Method

    • To find ERC20 tokens being transferred Flipside's ethereum.core.ez_token_transfers

    Analysis

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    This coming from the amount of interaction these ERC20 tokens had with zkSync smart contract.

    • For the last 60 days, most of the activty in transfers made is coming from USDC.
    • The second most interacted ERC20 in transfers is STORJ.
    • In third comes LDO with 1524.
    • Fourth is USDT with 1340 transfers.
    • And fifth is DAI with 1015 transfers in the last 60 days.
    • Now the net amount being transfered is a completely different activity when it comes around to the 10 most transfered ERC20 when seen by volume.
    • USDC keeps its place as the most transferred ERC20 with also the highest volume with 27 Millions.
    • Second is USDT which placed fourth in activity but in total volume it moved 12 millions in USD.
    • Following with DAI for the third biggest volume from the TOP 10 in activity, with 1.4 millions USD transferred.
    • In fourth, STORJ which placed second for the ERC20 with the most activity, in volume moved 575 units.
    • Activity for most ERC20 had remained constant.
    • There was some considerable activity one day before the Terra crash took the whole market with it. This activity came in huge STORJ transfers towards zkSync
    • The next relevant spikes came from LDO on May, 22 and 24.

    In short

    • USDC is the most prefered asset to sent to zkSync superior speed and cheaper fees. Which would make sense considering USDC is native to Ethereum and being able to use it at a lower cost, only adds to the overall health of USDC as a stablecoin.

    • Stablecoins in general had a big protagonism from the past 60 months in transfers made towards zkSync.

    • Activity in zksync has remained constant considering the current market escene.

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