Key Takeaways

Solana (SOL) suffered a seven-hour outage over the weekend, with a network restart restoring connectivity on Sunday at 3:00 UTC. This was the seventh downtime incident on the network, this time caused by a surge of NFT minting bots.
Optimism announced that it would launch a DAO and several rounds of airdrops. The team laid out the plan for these events in a recent blog post.
Ethereum (ETH) experienced severe network congestion during an NFT minting event by Bored Ape Yacht Club creator Yuga Labs, which has since apologised for the congestion. Gas fees soared during the minting event, with reports of thousands of dollars spent in gas fees to mint the tokens.
Cronos (CRO) saw a +6.12% increase in total transactions to 37.26M. The total number of wallet addresses now stands at 761,368, up +7.65% from last week.

Highlights

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, Terra Station, Terra Etherscan, 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

3 May 2022|MARKET UPDATES

Weekly Layers 1 & 2 Update (Week 17, 26/04/2022 – 02/05/2022)

Ethereum suffers network congestion during NFT mint event of BAYC creator Yuga Labs. Solana’s seventh downtime incident lasts 7 hours. Optimism plans to launch a DAO, several airdrops.

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