Monday Gwei | March Week 5

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

  • London Stock Exchange ETNs: The London Stock Exchange announces the launch of crypto ETNs on May 28, widening the investment gateway for digital assets.
  • Buterin on Rollups: Vitalik Buterin calls for rollups to achieve stage 1 decentralization by the year’s end, emphasizing the importance of scaling solutions.
  • Bitwise’s SEC Filing: Bitwise takes a significant step by filing with the SEC for a spot Ether ETF listing.
  • Polygon’s L3 Commentary: The CEO of Polygon stirs a debate by stating that L3 solutions are diverting value from Ethereum.

Top Layer 2 Solution

  • Total Value Locked (TVL): Arbitrum has $3.3B TVL, indicating growth and user confidence in these platforms.
  • Unique Active Wallets (UAW): Base adoption is staggering with 9.1M UAWs.
  • Fees: Base earned $9.1M in fees, demonstrating their importance to Ethereum.

Funding

  • Parallel’s Funding Success: Parallel secures a massive $85M in funding, earmarking it as a significant player in blockchain technology.
  • MyShell’s Market Push: With $16.8M raised, MyShell is set to advance its reach in the decentralized space.
  • BOB’s Financial Injection: BOB receives $10M in funding, signaling investor confidence in its potential.

Source: Coingecko

The figure shows volatility from March 26 to April 1 between $3.4K and $3.7K. The bottom of the graphic shows Ethereum’s value rising from 2016 to 2024.

ETH stats that matter

Gas Fee: Average Ethereum gas fees are at $8.9, indicating a stabilized cost for transactions on the network.

ETH Burned: $72.5M worth of ETH has been burned, showcasing the ongoing deflationary mechanism at work.

Revenue: Ethereum’s network has seen a revenue of $79.7M.

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