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
- Binance Founder CZ Walks Free: Binance CEO Changpeng Zhao (CZ) walks free from US prison, marking a significant moment in the crypto regulatory space.
- Vitalik Buterin’s Proposal for Ethereum Alignment: Vitalik Buterin introduces new metrics to measure the degree of “Ethereum alignment” within the network, aiming to standardize decentralized governance.
- VanEck’s Solana Forecast & Tornado Cash Dev Trial: VanEck predicts Solana may hit $350, while a Tornado Cash developer faces a criminal trial over privacy tool misuse.
- WazirX Hack Update: Despite ongoing issues, WazirX’s Q3 report shows a significant drop in YOY losses to $413 million from hacks and scams.
Top Layer 2 Solution
- Total Value Locked (TVL): Arbitrum continues to dominate with $2.5 billion.
- Unique Active Wallets (UAW): Base takes the lead with 6.8 million.
- Fees Collected: Base edges out competitors again, with $456.9K in fees.
Funding
- Pencils Protocol: Raised $30 million to expand decentralized finance infrastructure.
- Daylight: Secured $6 million to advance Layer 2 integration.
- Eigenpie: Obtained $4 million for its work on secure digital asset management.
Source: Coingecko
The Ethereum price chart from September 24 to 30 shows high volatility, with significant fluctuations between $2.55K and $2.7K. After touching the $2.7K mark, the price experienced a pullback, testing lower levels before finding support around $2.625K. The chart reflects a turbulent period, indicating uncertainty in market sentiment.
ETH stats that matter
- Gas Fee: Average transaction cost hit $5.2.
- ETH Burned: Ethereum saw $31.9 million worth of ETH burned due to high network activity.
- Revenue: Network revenue reached $31.4 million, maintaining strong engagement.
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