Layers 1 & 2 (Week 28, 12/07/2022 – 18/07/2022)

Ether’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
• Paraguay’s new bill may turn the country into mining heaven
• 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

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Research and Insights Team