Coinspeaker
Binance Founder CZ, Slams New Chains Failures, Calls for More dApps Instead
Former Binance CEO Changpeng “CZ” Zhao has weighed in on the struggles of new blockchain projects, emphasizing that the crypto industry needs more decentralized applications (dApps) rather than an endless stream of new networks. His comment comes as several new chains have seen their token values plummet shortly after launch.
“Need more dapps instead of chains,” CZ stated in response to a post highlighting the sharp declines in token values of recently launched blockchains. Many experts share that view as data indicates the majority of new blockchain projects are failing to hold investor interest, leaving their tokens in freefall.
Source: MONK / Messari
According to research by Messari, blockchain networks like Starknet and Dymension have witnessed an 87% drop in token value since their Token Generation Events (TGE). Blast has seen an 85% decline, while Mode has dropped by 70%
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