Monday Gwei | February Week 4

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

  • EigenLayer’s AI Partnership: EigenLayer announces a partnership with Ritual to create AI-powered decentralized applications (DApps).
  • Axie Infinity Hack: One of Axie Infinity’s co-founders experiences a wallet hack, resulting in a loss of $9.7 million.
  • Reddit’s Crypto Strategy: Reddit has begun converting its excess cash reserves into Bitcoin and Ethereum, signaling increased institutional interest.
  • StarkNet Token Fluctuation: StarkNet’s STRK token sees a price drop as a result of actions by Nethermind and airdrop hunters.

Top Layer 2 Solution

  • Total Value Locked (TVL): Arbitrum’s $3 billion TVL shows market confidence in these platforms.
  • Unique Active Wallets (UAW): The UAW count of zkSync is 422.2K, indicating increased adoption.
  • Fees: A collective $2.9 million in fees has been accrued by zkSync

Funding

EigenLayer’s Funding Milestone: EigenLayer has successfully raised $100 million, indicating significant investor interest.

ZeroLend’s Capital Infusion: ZeroLend secures $3 million in funding, ready to expand its services.

Source: Coingecko

Between February 20 and February 26. As seen on the graph, the values increase in magnitude from just below $2.9K to over $3.1K.

ETH stats that matter

Gas Fee: The average cost of transaction fees on Ethereum is now $10.2.

ETH Burned: A total of $83.1 million worth of ETH has been burned, indicating robust network usage.

Revenue: The Ethereum network has generated $75.9 million in revenue.

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