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
- Ethena Labs’ USDₑ Launches as Margin Collateral on Bybit with 20% APR: Ethena Labs has introduced USDₑ as a margin collateral option on Bybit, offering an attractive 20% APR. This launch aims to enhance trading flexibility and yield opportunities for users on the platform.
- ARK Buys $21M of 3iQ Ether Staking ETF, Dumps $14.6M of Coinbase Stock: ARK Investment Management has strategically shifted its portfolio by purchasing $21 million worth of 3iQ Ether Staking ETF while offloading $14.6 million of Coinbase stock, signaling a focused investment approach towards Ether staking.
- Lido Launches Institutional-Grade Liquidity Staking Solution: Lido has unveiled a new institutional-grade liquidity staking solution designed to cater to large-scale investors. This initiative is expected to attract significant interest from institutions looking to engage in Ethereum staking with enhanced liquidity options.
- Grayscale Ethereum ETF Outflows Exceed $2B: Grayscale’s Ethereum ETF has reported outflows exceeding $2 billion, reflecting evolving market trends and investor sentiment in the Ethereum space. This development underscores the ongoing adjustments in the crypto investment landscape.
Top Layer 2 Solution
- TVL: Arbitrum continues to dominate with the largest Total Value Locked at $2.5 billion, reaffirming its leading position in the Layer 2 space.
- UAW: Base also leads with 3.1 million unique active wallets, highlighting its expansive user engagement.
- Fees: Base takes the lead in fees, collecting $658.2K, showcasing its efficiency and popularity in handling transactions.
Funding
- We.Rich: Secured $2M to further develop its blockchain-based financial solutions and expand its market presence.
Source: Coingecko
Ethereum’s price chart for early August shows a significant downturn, with the price plummeting below $2.3K. This marks a notable drop, indicating heightened market volatility and a cautious investor sentiment.
ETH stats that matter
- Gas Fees: Settled at $2.4, indicating the current network demand.
- ETH Burned: $6.3M worth of Ethereum has been burned, demonstrating robust network usage.
- Revenue: Ethereum generated a total of $11.9M this week, highlighting ongoing transaction activity.
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