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 Buterin Proposes Decentralization Scheme for Cities: Ethereum’s co-founder has proposed a radical idea for managing cities in a partially decentralized manner.
- Aptos Integrates Nillion for Privacy: The Aptos network has partnered with Nillion to facilitate privacy-preserving applications.
- Crypto Hackers on the Rise: Immunefi reports stolen crypto exceeding $1.2 billion in 2024, highlighting the need for enhanced security measures.
- Starknet Update Enables Parallel Execution: The latest update to Starknet introduces parallel execution capabilities, potentially improving scalability.
Top Layer 2 Solution
- TVL: Arbitrum continues to dominate the TVL with $2.6 billion locked in stablecoins.
- UAW: Base remains a strong contender, leading in unique active wallets (4.5 million)
- Fees: Base also leads in fees, collecting $400.3k.
Funding
- Time.Fun: Secured $20 million in funding to develop its time-based NFT platform.
- Origami Finance: Raised $3 million for its innovative DeFi protocol.
- Overall Market Sentiment: A slight decrease of 11% is observed across the crypto market.
Source: Coingecko
The Ethereum price chart for late August 2024 indicates a significant rally. The price surged from approximately $2,650 to a peak of nearly $2,850, suggesting strong buying interest and bullish sentiment in the market. However, there was a slight pullback towards the end of the period, with the price closing around $2,750.
ETH stats that matter
- Gas Fee: Currently low at $0.97, indicating stable network activity.
- Revenue: Ethereum generated $2.7 million this week, reflecting ongoing transaction volume.
- ETH Burned : $2.7 million worth of Ethereum was burned, contributing to deflationary pressure.
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