Is it as bad as it seems? I would say no. This downsizing highlights the volatile nature of the crypto market and the challenges even successful projects face in maintaining momentum but that doesn't mean there is a reason to panic. It remains a very appreciated project and said to have great potential so I hope it will meet the expectations. At the moment there is a hype around it and some consider it the perfect moment to invest in it but as always, make informed decisions.

Matter Labs, the developer behind ZKsync, has recently announced a 16% workforce reduction (24 people) , reflecting shifting market dynamics and evolving business needs. According to CEO Alex Gluchowski, this decision follows a thorough organizational review to ensure that the company remains agile and well-positioned for the future.

ZKsync Era had been a standout in the Ethereum Layer 2 space, consistently leading in daily transactions for much of 2024. However, since the ZK token airdrop in June, activity has declined, with the number of active addresses dropping significantly from over 455,000 in April to around 93,000 now.

In my opinion, this downsizing highlights the volatile nature of the crypto market and the challenges even successful projects face in maintaining momentum but that doesn't mean there is a reason to panic. It remains a very appreciated project and said to have great potential so I hope it will meet the expectations. At the moment there is a hype around it and some consider it the perfect moment to invest in it but as always, make informed decisions.

Source : https://www.theblock.co/post/314434/the-daily-matter-labs-cuts-staff-as-zksync-demand-falls-sec-charges-galois-capital-and-more Show Less