Zilliqa, along with other smart contract platforms like IOTA and EOS, has recently faced difficulties in maintaining high levels of activity within its ecosystem. This underperformance has occurred despite the overall strong recovery of the cryptocurrency market, which has reached a combined market cap of over $1.2 trillion.
The total value locked (TVL) in Zilliqa's DeFi ecosystem has decreased significantly to its lowest level in months despite having a peak TVL of 1.4bn ZIL. With the total number of ZIL addresses dwindling to approximately 4.5 million, and with only 208 new addresses created, it's is a far cry compared to the 1,551 addresses created on March 17.
It's quite clear that they're having issues maintaining ecosystem activity and are currently facing increasing competition from various other up and coming platforms. Imo, for Zilliqa to regain momentum and attract more participants to its network, it will definitely need to address these challenges. Show Less
