Weekly Layers 1 & 2 Update (Week 8, 22/02/2022 – 28/02/2022)
BTC network’s daily raw hashrate sinks to 173.8 EH/s, and then climbs to 214.1 EH/s. ETH 2.0 Beacon Chain validators surpass 300K mark. Luna Foundation Guard raises $1B in reserves for UST.
Key Takeaways
- Intraweek, the Bitcoin (BTC) network’s daily raw hashrate dipped to a low of 173.8 EH/s before bouncing up to 214.1 EH/s. The network remained largely unaffected by the ongoing geopolitical conflict.
- The number of unique validators on the ETH 2.0 Beacon Chain crossed the 300,000 mark. The total number of ETH wallet non-zero addresses reached 76.3M despite volatility in recent weeks.
- The Luna Foundation Guard raised $1B in reserves to support the Terra network stablecoin (UST) over a four-year vesting period.
- Cronos (CRO) saw a +7.07% increase in total transactions to 18.47M, while its TVL grew to $2.34B (+23.83% week-on-week). The total number of wallet addresses now stands at 403,533, up +3.18% from last week.
Highlights
- Russian miners keep running, may see pivot to Bitcoin in response to sanctions
- Thousands of Ethereum coders bring their grunge-hacker vibe to Denver
- Yearn launches its first Ethereum layer-2 service on Arbitrum
- Ethereum validators near 300,000 as amount of ETH staked surpasses 9.5 million
- Ethereum mining pool Flexpool halts all services to Russia in wake of Ukraine invasion
- Ethereum gets an upgraded scaling Testnet – and it’s actually years ahead of schedule
- (Optimism) ETHDenver: Rollup recap
- Ethereum scaling solution StarkNet completes launch – with goal to move to community control
- Cardano interoperability with Ethereum in the works as Bridge Testnet launches
- Cardano’s scaling solution based on ZK Rollups unveiled
Layer 1 Project Metrics
| Ethereum | Terra | Avalanche | Solana | Fantom | Binance Smart Chain | Cronos | |
|---|---|---|---|---|---|---|---|
| Market Cap of Native Coin | $349.72B | $33.62B | $21.49B | $31.26B | $4.76B | $66.19B | $11.25B |
| 7-Day Change | +1.86% | +39.82% | +6.76% | +2.37% | +2.86% | +0.99% | +2.11% |
| Total Value Locked (TVL) | $113.54B | $22.67B | $11.08B | $7.33B | $11.77B | $12.85B | $2.34B |
| 7-Day Change | -1.58% | +44.19% | +6.47% | +1.79% | +62.06% | +4.96% | +23.83% |
| Cap / TVL | 3.08x | 1.48x | 1.94x | 4.26x | 0.4x | 5.15x | 4.8x |
| 7-Day Avg. Daily Volume (Native Coin) | $18.26B | $2.57B | $1.38B | $2.14B | $0.89B | $1.48B | $0.14B |
| 7-Day Change | +36.11% | +212.06% | +43.37% | +57.63% | +81.44% | +37.99% | -8.07% |
| Price ofNative Coin | $2,927.68 | $89.52 | $87.62 | $97.75 | $1.88 | $395.47 | $0.45 |
| 7-Day Change | +13.72% | +78.15% | +25.13% | +17.57% | +21.94% | +10.79% | +15.55% |
| Total # of Transactions since Launch | 1.49B | – | 108.87M† | 60.45B | 207.25M | 2.57B | 18.47M |
| # of Nodes/Validators | 6,427 | 130 | 1,264 | 1,557 | 58 | 21 | 26 |
† X-Chain total transactions plus C-Chain total transactions
‘–’ denotes missing, unavailable, or incomplete data
Sources: Coingecko, Etherscan,Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan,CronoScan, Cronos Explorer, DeFi Llama
Layer 2 Project Metrics
| Polygon | Lightning Network | Ronin Sidechain† | Optimistic Ethereum | Arbitrum | Boba | Metis Andromeda | |
|---|---|---|---|---|---|---|---|
| TVL/ Capacity on Network | $4.16B | $148.83M | $620.11M | $337.69M | $2.22B | $61.09M | $284.45M |
| Total Transactions | 1.44B | – | 318.90M | – | 7.89M | 370,382 | 1.01M |
| Nodes/ Unique Addresses | 65 | 35,102 | 10.11M | – | 414,171 | 17,380 | 49,370 |
† 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
Share with Friends
Related Articles
Market Pulse - YESTERDAY
📉 BTC’s implied volatility fell to Oct 2023 lows; Crypto.com celebrated its 9th anniversary
Market Pulse - YESTERDAY
📉 BTC’s implied volatility fell to Oct 2023 lows; Crypto.com celebrated its 9th anniversary
Market Pulse - YESTERDAY
📉 BTC’s implied volatility fell to Oct 2023 lows; Crypto.com celebrated its 9th anniversary
GameFi - 4 Jul 2025
NFT & Gaming — 🎮 Pudgy Penguins is launching a Web3 game, Pengu Clash; Otherside announced the upcoming shooter game, Bathroom Blitz
GameFi - 4 Jul 2025
NFT & Gaming — 🎮 Pudgy Penguins is launching a Web3 game, Pengu Clash; Otherside announced the upcoming shooter game, Bathroom Blitz
GameFi - 4 Jul 2025
NFT & Gaming — 🎮 Pudgy Penguins is launching a Web3 game, Pengu Clash; Otherside announced the upcoming shooter game, Bathroom Blitz
DeFi - 2 Jul 2025
DeFi & L1L2 Weekly — 📈 The weekly unique users of Ethereum-based stablecoins surpassed 750,000; REX-Osprey Solana and Staking ETF is set to launch today
DeFi - 2 Jul 2025
DeFi & L1L2 Weekly — 📈 The weekly unique users of Ethereum-based stablecoins surpassed 750,000; REX-Osprey Solana and Staking ETF is set to launch today
DeFi - 2 Jul 2025
DeFi & L1L2 Weekly — 📈 The weekly unique users of Ethereum-based stablecoins surpassed 750,000; REX-Osprey Solana and Staking ETF is set to launch today
Ready to start your crypto journey?
Get your step-by-step guide to setting upan account with Crypto.com
By clicking the Submit button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.
