Monday Gwei | March 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

  • Optimism’s Private Deal: Optimism offloads $90M worth of tokens in a private deal, marking a significant financial maneuver.
  • ETF Conversations: Grayscale and Coinbase engage with the SEC over a potential spot Ether ETF, a development eagerly watched by investors.
  • Buterin on Quantum Security: Vitalik Buterin speaks about the possibility of a simple hard fork as a countermeasure against potential quantum attacks on Ethereum.

Top Layer 2 Solution

  • Total Value Locked (TVL): Arbitrum’s TVL is $3.6B, indicating that more people trust these platforms for transactions.
  • Unique Active Wallets (UAW): There are 304.4K UAW, indicating a growing ZkSync community.
  • Fees: Arbitrum earned $5.2M in fees, demonstrating their importance to Ethereum.

Funding

Optimism’s Impressive Round: Optimism has raised a remarkable $89M, demonstrating strong investor confidence.

Baamx’s Growth Funding: Baanx secures $20M to further its fintech solutions.

TokenFi’s Capital Boost: With $10M in funding, TokenFi is set to expand its presence in the DeFi space.

Source: Coingecko

The data from March 6 to March 11 shows significant changes over time, culminating in an upward spike from 2016 to 2024.

ETH stats that matter

Gas Fee: The average Ethereum gas fee has risen to $22.2, possibly due to the network’s increasing demand.

ETH Burned: A substantial $207.5M worth of ETH has been burned, underscoring Ethereum’s deflationary mechanism in action.

Revenue: The network’s revenue is robust at $199.3M.

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