Monday Gwei | June 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

  • Ethereum Upgrade: Ethereum’s Pectra upgrade reveals key risks identified in a comprehensive report.
  • Endorsements: Vitalik Buterin endorses TiTok AI for onchain image storage, showcasing his support for innovative technologies.
  • New Launches: Aethir launches a decentralized cloud network on Ethereum mainnet, expanding its service offerings.
  • Staking Solutions: MetaMask enables pooled staking for Ethereum holders, enhancing user engagement and staking efficiency.

Top Layer 2 Solution

  • TVL: Arbitrum holds the largest Total Value Locked with $3 billion, confirming its top position.
  • UAW: Arbitrum leads with 2.6 million unique active wallets, reflecting its broad user base.
  • Fees: Base leads with $1.5M in fees collected, underlining its efficiency and popularity in processing transactions.

Funding

  • Irys: Secured $3.5M to enhance its decentralized identity solutions.
  • Symbiotic: Raised $5.8M to advance its innovative blockchain technology.
  • Ava Protocol: Received $4.5M for developing its scalable and secure protocol infrastructure.

Source: Coingecko


The Ethereum price chart for mid-June reveals significant volatility, with the price struggling to maintain levels above $3.5K. The pattern indicates a series of sharp drops and brief recoveries, reflecting ongoing market uncertainty.

ETH stats that matter

  • Gas Fees: Settled at $5.4, reflecting current network demand.
  • ETH Burned: $26.7M worth of Ethereum has been burned, indicating robust network usage.
  • Revenue: Generated a total of $26.7M this week, showcasing ongoing transaction activity.

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