Trader: Although ZORA is rising sharply, its on-chain data indicators are all declining

ChainCatcher message, trader Axel Bitblaze posted on X and listed data indicating that although ZORA is currently experiencing a significant rise (with a monthly increase of over 800%), its on-chain data indicators do not match its market performance. Specifically:

1. The number of new addresses for Zora has decreased from over 60,000 at launch to below 10,000;
2. User retention is declining, with most new users only retained for 1-2 months;
3. The daily number of contracts created once peaked at over 100,000, but has now dropped to nearly zero;
4. The daily transaction count has decreased from nearly 6 million per month to less than 1.5 million;
5. The number of active users has plummeted from a peak of over 200,000 to around 50,000 currently.