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
- Synthetix’s New Multi-Collateral Perps: Synthetix is placing its bets on a new ‘multi-collateral’ perpetual futures product, anticipating its upcoming rollout on Arbitrum.
- Sony Launches Soneium Blockchain: Sony has launched its own blockchain, Soneium, aimed at attracting Web3 developers and boosting the adoption of decentralized technologies.
- Crypto Law Firm Loses Appeal: A crypto law firm has lost its appeal to force the SEC’s hand on classifying Ether, signaling ongoing regulatory uncertainty.
- Immunefi Report on Hacked Cryptocurrencies: According to Immunefi, nearly 80% of hacked cryptocurrencies never recover in price, highlighting the lasting impact of security breaches on digital assets.
Top Layer 2 Solution
- TVL: Arbitrum continues to lead with $2.8 billion in Total Value Locked.
- UAW: Base surpasses others with 4.3 million unique active wallets.
- Fees: Base also leads in fees, collecting $350.3K.
Funding
- Stork Network: Secures $4M for its new decentralized finance project.
- CredBull: Raises $5.2M to expand its cryptocurrency lending platform.
- BSX: Attracts $4M for further development of its blockchain infrastructure.
Source: Coingecko
The Ethereum price chart in late August shows a significant rally, with the price rising from $2.65K to nearly $2.85K. This upward movement indicates strong buying interest, although the price retraces slightly towards $2.75K by the end of the period. The increased trading volume suggests heightened market activity during this bullish phase.
ETH stats that matter
- Gas Fees: Remain low at $1.2, reflecting stable network activity.
- ETH Burned: $3.1M worth of Ethereum was burned this week, continuing the trend of deflationary pressure.
- Revenue: Ethereum generated $2.8M, demonstrating ongoing transaction volume.
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