Monday Gwei | January 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

  • Buterin’s Gas Proposal: Ethereum co-founder Vitalik Buterin proposes a 33% gas limit increase to reduce network congestion and improve transaction processing.
  • Celsius’s Strategic Moves: Celsius sent $125M of ETH to exchanges amid FTX and Alameda market manoeuvres.
  • Regulatory Caution: South Korean officials have warned against trading in U.S. Bitcoin ETFs, signalling increased cryptocurrency scrutiny.

Top Layer 2 Solution

  • Total Value Locked (TVL):: Arbitrum has a TVL of $2.6B, which shows that more and more people are investing money and trusting these scalability options.
  • Unique Active Wallets (UAW): The number of unique active wallets in zksync has grown to 419.6K, which shows that Layer 2 technologies are becoming more popular.
  • Fees: With $2.2M in fees, platforms like Arbitrum are showing that they are valuable by making transactions quick and cheap.

Funding

Bracket Labs’ Financial Boost: Bracket Labs has secured $2M in funding, infusing fresh capital to drive their project forward in the competitive blockchain space

Source: Coingecko

Between January 8 and January 15, 2024. During the first half of the period, the price generally went up. It reached a high point, then dropped sharply, and finally levelled off near the end of the time.

Gas Fee: As network activity stayed high, users saw a small rise in petrol fees, which now averaged $6.64.

ETH Burned: Deflation is still going strong, as $50.84M worth of ETH was burned this week.

Revenue: Ethereum’s income went up to $56.7M, which shows that the network is being used and active well.

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