Monday Gwei | April Week 2

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

  • Legal Challenges: A former Ethereum adviser files a $9.6B lawsuit against the U.S. government.
  • Stablecoin Expansion: Circle extends the reach of USD Coin by launching it on Ethereum zkSync.
  • Ethena’s Wallet Integration: Ethena announces a new integration with exchange wallets, possibly enhancing user experience and interoperability.
  • Ethereum’s Network Upgrade: The upcoming ‘Pectra’ upgrade is set to transform normal wallets into ‘smart’ wallets and aims to significantly improve the user experience.

Top Layer 2 Solution

  • Total Value Locked (TVL): Arbitrum has $2.9B worth of value locked up in it.
  • Unique Active Wallets (UAW): A huge number of 1.5M UAWs shows that Base ecosystems are healthy and growing.
  • Fees: Base earns $3.1M in fees, which shows how important they are to the network’s ability to grow.

Funding

  • Mayan’s Funding Success: Mayan secures $3M to further its technological offerings in the blockchain space.
  • Azuro’s Big Raise: With an $11M funding round, Azuro positions itself for significant growth.
  • Stream Finance’s Capital Infusion: Stream Finance raises $1.5M, likely to expand its decentralized finance capabilities.

Source: Coingecko

Ethereum’s chart depicts a downward trend this week, with a notable dip below $3K before a mild recovery.

ETH stats that matter

  • Gas Fee: Ethereum maintains user-friendly gas fees, with an average of $7.8.
  • ETH Burned: The network sees $57.6M worth of ETH burned, highlighting sustained network usage.
  • Revenue: Ethereum protocols collectively generate $60.1M in revenue.

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