Monday Gwei | July 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

  • Vitalik Buterin Introduces Circle STARKs: A new approach to blockchain efficiency.
  • Japan Crypto ETFs Boosted: The Franklin Templeton and SBI Holdings partnership.
  • Grayscale Ethereum Trust ETF: Net outflows hit $1.5B.
  • HK Police Arrest 4 in Crypto Fraud: Involving HK$11M.

Top Layer 2 Solution

  • TVL: Arbitrum holds the largest Total Value Locked with $3.2 billion, confirming its top position.
  • UAW: Base leads with 3.7 million unique active wallets, reflecting its broad user base.
  • Fees: Base leads with $724.3K in fees collected, underlining its efficiency and popularity in processing transactions.

Funding

  • NPC Labs: Secured $18M to enhance its blockchain infrastructure.
  • Stix Protocol: Raised $1.8M for further development and expansion.

Source: Coingecko

The Ethereum price chart for late July showcases a significant drop followed by a steady recovery, ending the month near $3.3K. This pattern reflects a volatile period with a resilient ending, indicating a bounce back in investor confidence and market dynamics.

ETH stats that matter

  • Gas Fees: Settled at $2.9, reflecting current network demand.
  • ETH Burned: $9.4M worth of Ethereum has been burned, indicating robust network usage.
  • Revenue: Generated a total of $9.3M this week, showcasing ongoing transaction activity.

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