From the average gas fee, to ETH burned, Monday Gwei covers it all.
This week,
- Top Ethereum News
- Top Layer 2 Solution
- Funding
- ETH stats that matter
Monday Gwei is a weekly account of what is happening in the Ethereum ecosystem.

Top Ethereum News
- Vitalik’s Ethereum Vision: Vitalik Buterin supports Single Slot Finality to strengthen Ethereum PoS design, demonstrating his dedication to network improvement.
- Buterin’s Cypherpunk Revival: Vitalik wants to return to Ethereum’s cypherpunk beginnings, igniting the community’s spirit.
- Tether’s USDT Move: Tether mints a massive $1B USDT for ‘stocking restock’, as verified by CEO Paolo Ardoino, indicating confidence in the stablecoin’s demand.
Top Layer 2 Solution
- Total Value Locked (TVL):: At $2.5B, Layer 2 solutions continue to grow, bolstering Ethereum’s scalability narrative.
- Unique Active Wallets (UAW): With 363.3K active wallets, Layer 2 platforms are gaining popularity.
- Fees: Due to its $1.6M fee revenue, Layer 2 networks are not a passing trend.
Funding
This week witnessed few fundraising events.
Farcana’s Financial Injection: With $10M, Farcana can expand in the blockchain field.
GoDID’s Financial Milestone: $30M fundraising round launches new growth and development phase.
Formless Funding Surge: Formless raises $2.2M on the investing wave.

Source: Coingecko
The cryptocurrency price experienced a significant uptrend in the week of December 25, 2023, to January 1, 2024, reaching a peak before undergoing a correction towards the end of the period.
ETH stats that matter
Gas Fee: Starting the year, the average petrol charge has been $6.5, indicating a user-friendly network.
ETH Burned: Ethereum’s deflationary narrative continues with $38.17M in ETH burned.
Revenue: Protocol revenue this week is $39.75M, demonstrating the network’s resilience.
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