Weekly Update - Layer 1 & Layer 2 News (Week 28, 12/07/2022 – 18/07/2022)
$ETH's price rises 12% ahead of the Merge, and Vitalik Buterin responds to PoS critics. Heat wave halts Bitcoin mining in Texas. Lido plans to bring $stETH to layer-2 networks.
Key Takeaways
Ethereum’s (ETH) price jumped 12% ahead of the Merge, while Vitalik Buterin responded to PoS critics.
Texas miners paused operations amid the heat wave, with Bitcoin’s (BTC) hash rate dropping 27%.
Lido (LDO) announced plans to bring stETH to layer-2 networks, while stETH narrowed its price gap with ETH.
Cronos’ (CRO) price reached US$0.13, an increase of +15.82% from last week.
Highlights
Ethereum scaling solution StarkNet announces token launch for September
Helium network team resolves consensus error after four-hour outage
Nervos Network (CKB) price posts double-digit gain after Godwoken layer-2 launch
Axie Infinity's SLP burn rate exceeds minting rate for first time since August 2021
Dogecoin foundation director launches survey about potential DOGE hackathon this year
Shiba Inu discloses key BONE updates as release of Shibarium approaches
Bitcoin miners sold 14.6k BTC in June, a 4x increment from May and suggesting capitulation
Bitcoin miner Marathon Digital signs multiple hosting deals to reach its hashrate view
140 million Shiba Inu burned as burn rate spikes 137%: report
Layer 1 Project Metrics
* % change is based on the difference between two subsequent bi-weekly periods
† Sum of P, X and C-chain total transactions
‘–’ denotes missing, unavailable, or incomplete data
Sources: Coingecko, Etherscan,Ethernodes, Cardanoscan, Avascan, Solana Beach, FTMscan, BSCscan,CronoScan, Cronos Explorer, DeFi Llama
Layer 2 Project Metrics
* Figure refers to Lightning nodes with active channels
† Ronin is the sidechain developed by Sky Mavis for Axie Infinity
‘–’ denotes missing, unavailable, or incomplete data
Sources: DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer
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