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
- Innovations in ZK-Proofs: Space and Time have introduced an open-source GPU accelerator for ZK-proof protocols, a significant technological advancement in blockchain privacy and efficiency.
- Network Health Concerns: The Geth Ethereum network experienced a 5% decrease in share due to potential ‘black swan event’ concerns, indicating its sensitivity to stability issues.
- Security Breaches: A $1.8M private key hack exposed a security issue in a Concentric liquidity manager, highlighting the ongoing security challenges in decentralized systems.
Top Layer 2 Solution
- Total Value Locked (TVL):: Arbitrum’s strong TVL of $2.6B indicates the confidence and liquidity in their platforms.
- Unique Active Wallets (UAW): The user base for zksync is increasing significantly, with a UAW count reaching 443.3K.
- Fees: Arbitrum secured $1.17M in fees, highlighting their significant role in Ethereum’s scalability and user experience enhancements.
Funding
imgnAI’s Tech Boost: imgnAI has secured $1.6M in funding to enhance its AI-driven blockchain solutions.
Axiom’s Capital Infusion: Axiom has secured a substantial $20M funding round, indicating strong investor confidence in its potential and direction.
Arcade2Earn’s Gaming Innovation: Arcade2Earn has raised $4.8M, aiming to enhance its position in the blockchain gaming and play-to-earn ecosystem.
Source: Coingecko
The chart indicates a volatile week in the market, with a sharp decline followed by fluctuations within a $250 range. The histogram suggests active trading volume, while the long-term trend line shows a general downward trajectory leading up to the current year.
ETH stats that matter
Gas Fee: Ethereum’s average gas fees are currently at $5.29, providing users with affordable transaction costs.
ETH Burned: The network reportedly burned $27.45M worth of ETH, indicating the ongoing impact of EIP-1559’s deflationary mechanism.
Revenue: Ethereum protocols generated $28M in revenue, indicating active network participation despite market fluctuations.
Found value in the insights shared here? Check out our YouTube and Twitter, loaded with content meant to educate and entertain.
Follow our Telegram for a sneak peek at alpha; for an even deeper dive, join our Patreon community, where we share exclusive alpha for you to be the ‘early bird.’
Follow us today, and let’s explore Web3 together!