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
- VanEck Invests in Web3 Gaming: VanEck backs Gunzilla, a Web3 gaming startup, expanding its interests in the blockchain gaming sector.
- M2 Crypto Exchange Hacked: M2 was hacked for $13 million, though all user funds have reportedly been restored.
- UBS Launches Tokenized Fund: UBS integrates Ethereum into its TradFi offerings, marking ETH’s growing role in traditional finance.
- Justin Drake Steps Down: Ethereum Foundation’s Justin Drake announced his exit from the EigenLayer advisory board.
Top Layer 2 Solution
- Total Value Locked (TVL): Base chain maintains the lead with $3.8 billion.
- Unique Active Wallets (UAW): Base edges Arbitrum One with 5.4 million unique active wallets.
- Fees Collected: Base collected $1 million in fees, dominating the network.
Funding
- Spire Labs: Raised $7 million, with a focus on enhancing Web3 applications and infrastructure.
Source: Coingecko
Ethereum’s price experienced a brief rally towards the end of October, peaking just under $2.7K before a pronounced sell-off in early November. The downward movement continued as ETH fell below $2.5K, with trading volumes showing a slight decrease. This suggests possible market caution or profit-taking after the recent peak, as traders gauge sentiment for the month ahead.
ETH stats that matter
- Gas Fee: Average transaction cost settled at $3.1.
- ETH Burned: A total of $16.3 million worth of ETH was burned.
- Revenue: Ethereum network revenue reached $16.9 million, indicating sustained activity.
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