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
- Market Regulation: ESMA categorizes Miner Extractable Value (MEV) as ‘market abuse’ in their latest guidelines.
- Security Improvements: May sees a 12% decrease in crypto losses due to fraud and hacks, signaling stronger security measures.
- Investment Shifts: ARK Invest concludes its collaboration with 21Shares concerning Ether ETF initiatives.
- Market Movements: Following ETF approvals, cryptocurrency exchanges experienced a $3B outflow of Ethereum, indicating significant market reactions.
Top Layer 2 Solution
- TVL: Arbitrum, with $3.1 billion, showcases its significant hold on market liquidity.
- UAW: Arbitrum remains the leader with 2.4 million unique active wallets, demonstrating strong user retention and growth.
- Fees: Base excels with $810.6K in fees, reinforcing its competitive edge in processing transactions.
Funding
- BitGet Wallet: Secures $85K to enhance its wallet services.
- NexGami: Receives $2.5M for expanding its blockchain gaming platform.
- Anzen: Raises $4M to innovate security solutions for the blockchain industry.
Source: Coingecko
The Ethereum price chart for the last week of May shows significant volatility with multiple peaks and troughs. Prices ranged between $3.7K and nearly $4K, ending the week on a slight upward trend. The trading volume varied, reflecting mixed investor sentiments.
ETH stats that matter
- Gas Fees: Steady at $5.2, indicating stable network usage.
- ETH Burned: $33.7M worth of Ethereum was burned this week, showing sustained network activity.
- Revenue: Total revenue stands at $33.5M, highlighting the economic vitality of the network.
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