New York, Tuesday, October 01, 2024 – LayerZero, a cross-chain messaging protocol, has experienced a massive resurgence in user engagement following the announcement of its second airdrop last week.
On Saturday, the protocol recorded a daily message count of 98,000, marking a 433% increase from the recent low of 18,400 messages. This surge in activity comes after weeks of relatively low engagement, with daily messages lingering around 20,000.
The second airdrop is being credited as the primary driver behind this renewed interest.
LayerZero has implemented a strategy that excludes wallets which claimed ZRO tokens in the initial distribution but have not remained active since then. By rewarding active users, LayerZero aims to boost sustained engagement within its ecosystem.
The protocol has introduced a 30-day claim window for the airdrop, which is expected to further increase user activity over the coming weeks. This surge in interest could potentially translate into long-term adoption of the LayerZero protocol, particularly if users remain engaged beyond the airdrop period.
However, analysts caution that this heightened activity may be short-lived. Once the excitement surrounding the airdrop subsides, daily message counts could drop. Additionally, if Bitcoin’s price remains below $63,000 or its dominance increases, the value of LayerZero’s native token, ZRO, could face downward pressure.
