Monday Gwei | July Week 1

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

  • Ether ETFs’ Impact: Ether ETFs will only be a ‘sidekick’ to Bitcoin ETFs — Bloomberg analyst.
  • Web3 User Growth: Web3 users reached an all-time high of 10M in Q2: DappRadar.
  • Ethereum Efficiency: Vitalik Buterin opts for faster Ethereum, EIP-7732 gives hope.
  • Security Breach: Ethereum Foundation email hacked to promote Lido staking phishing scam.

Top Layer 2 Solution

  • TVL: Arbitrum holds the largest Total Value Locked with $2.6 billion, confirming its top position.
  • UAW: Base leads with 2.9 million unique active wallets, reflecting its broad user base.
  • Fees: Base leads with $486.8K in fees collected, underlining its efficiency and popularity in processing transactions.

Funding

  • Pac Finance: Secured $1M to enhance its decentralized finance solutions.

Source: Coingecko


The Ethereum price chart for the first week of July indicates a sharp downward trend, dropping from above $3.5K to below $3K. Despite the decline, trading volume remains high, reflecting ongoing market activity and investor engagement

ETH stats that matter

  • Gas Fees: Settled at $2.5, reflecting current network demand.
  • ETH Burned: $12M worth of Ethereum has been burned, indicating robust network usage.
  • Revenue: Generated a total of $20.8M this week, showcasing ongoing transaction activity.

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