Former Binance CEO Changpeng "CZ" Zhao has stated that the crypto industry needs more decentralized applications (dApps) instead of new blockchain networks. This comment was made in response to a statistic that showed new chains struggling after their token generation events. The decline in token cumulative returns for various blockchains, such as Starknet, Dymension, Blast, Mode, Berachain, and Scroll, has been highlighted. The only exception is Hyperliquid, which has experienced a significant increase since its TGE. The crypto market has recently seen liquidations of long positions and an influx of token unlocks, suggesting that the market is saturated with layer1 and layer2 solutions. Users agreed with CZ, stating that there are too many chains on the market and more decentralization is needed for the industry to grow.



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