Monday Gwei | Oct 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

  • Vitalik Buterin’s Memecoin Donations: Vitalik Buterin sells another $1.6M worth of memecoins, with all proceeds going to charity.
  • Fairdesk Exchange Shuts Down: Fairdesk, a well-known crypto exchange, is closing due to regulatory pressures, reflecting the tightening legal landscape.
  • SEC Targets Cumberland DRW: The SEC has filed a lawsuit against Cumberland DRW for allegedly conducting unregistered crypto dealer activities.
  • Uniswap’s Layer 2 Launch: Uniswap officially launches its own Layer-2 solution, Unichain, pushing the boundaries of decentralized trading.

Top Layer 2 Solution

  • Total Value Locked (TVL): Base leads with $3.7 billion in stables.
  • Unique Active Wallets (UAW): Base dominates with 6.8 million active wallets.
  • Fees Collected: Base leads again with $689.2K in fees.

Funding

  • Trendies: Raised $1.7 million to expand its NFT marketplace.
  • Fission: Secured $1.6 million for further decentralized finance tools.
  • Semantic Layer: Obtained $3 million to enhance blockchain interoperability solutions.

Source: Coingecko

The Ethereum price chart for mid-October shows a gradual upward trend, culminating in a sharp breakout above $2.5K. Trading volumes have increased, signaling strong buying interest and a shift in market sentiment towards a more bullish outlook after weeks of consolidation.

ETH stats that matter

  • Gas Fee: Average transaction cost settled at $4.3.
  • ETH Burned: Ethereum saw $31.9 million worth of ETH burned due to high network usage.
  • Revenue: Network revenue reached $30.6 million, maintaining strong market activity.

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