Nansen: zkSync Era Users Surge — Who Are They?
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Nansen: zkSync Era Users Surge — Who Are They?
Over 71% of wallets interacting with zkSync Era were created last year, but on-chain activity is dominated by older users.
Navigating Web3 tides with focused insightsAuthor: Nansen
Translation: Luffy, Foresight News
zkSync Era is one of the leading rollups today, offering a scalable general-purpose smart contract platform for users and developers. Since its launch in March 2023, it has experienced exponential growth in user metrics, applications, and third-party integrations. To date, zkSync has attracted over $456 million in net inflows from Ethereum, with more than 2.26 million unique cross-chain users.
With substantial user engagement and on-chain activity, who exactly are these depositors, and how has their behavior evolved over time?
zkSync Users
By analyzing when addresses first became active on Ethereum, we can better understand the age distribution of wallets interacting with zkSync.
Source: Nansen
Over 71% of depositor wallets were created within the past year, indicating significant new wallet adoption linked to zkSync. Beyond wallet age, what does the value distribution of deposits into zkSync look like?
Source: Nansen
The majority of funds deposited into zkSync Era from Ethereum come from wallets with cumulative deposits under $1,000. To measure activity trends over time, we can examine the number of unique depositors across periods.
Daily Unique Depositors
Below, we use data from Ethereum’s native cross-chain bridge to visualize daily and cumulative unique depositors to zkSync.
Source: Nansen
This shows a continuous increase in new addresses since zkSync’s launch. New depositors peaked in May 2023 and have since trended downward. However, as of March 13, 2024, average daily unique depositors still exceed 8,280, indicating significant new user growth throughout 2023 and 2024. Cross-chain flows serve as a strong indicator for identifying truly active users on zkSync Era in 2024.
zkSync Activity
In 2024, we visualize active addresses on zkSync Era and group them into the following categories:
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EOA (Externally Owned Accounts): existing and new addresses
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Smart Contract Accounts: existing and newly deployed contracts
Source: Nansen
Most activity is driven by existing EOAs—long-standing users—rather than the influx of new addresses joining zkSync. Additionally, what are whale addresses doing on zkSync?
zkSync Whale Holdings and Activity
We identified the top 30 addresses by token balance value (in USD) as of March 14, applying the following filters:
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Active in 2024
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Average of 50 or fewer transactions per day (to filter out noisy addresses)
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Not associated with any entity on zkSync or Ethereum mainnet
Additionally, we applied further filters:
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Not an exchange
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Not a contract address
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Not an MEV bot
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Not an NFT wash trader
Below are the top 10 tokens held by these wallets since January 1, 2024.
Source: Nansen
In terms of USD value, ETH ranks first, followed by ZKID, IDO, and KOI. This reflects dollar-denominated holdings—but which tokens are most widely held across these wallets?
Below, we visualize the number of addresses holding each specific token. Since we’re only looking at 30 whale wallets, a count of 10 means 33% of whales hold that token. Not all addresses were active throughout 2023, so you’ll see asset counts rising steadily up to the present.
Source: Nansen
Unsurprisingly, all whale addresses hold ETH, followed by USDC, WETH, USDT, and wBTC. This suggests that most whales primarily invest in mainstream tokens and stablecoins. However, over time we observe a strong upward trend in investment in zkSync-native assets. Finally, let's examine these whales’ activity in 2024.
Source: Nansen
Similar to general account activity, whale activity peaked at the end of February 2024. Their activity remains consistent, averaging over 189 transactions per day on zkSync Era in 2024.
Conclusion
From 2023 to 2024, zkSync Era has seen rapid development in user engagement and asset distribution. The platform boasts over 2.26 million unique users from Ethereum, demonstrating strong momentum largely driven by new entrants. On-chain activity remains robust, supported significantly by long-standing users—particularly externally owned accounts (EOAs).
Overall, zkSync Era as an ecosystem has undergone rapid growth, characterized by an expanding user base, sustained participation from existing users, and increasing interest in native tokens.
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