Key Takeaways

The Terra (LUNA) blockchain was restarted on Thursday due to security concerns arising from LUNA’s price crash to under US$0.01. Do Kwon has proposed a plan that may involve forking the blockchain in an attempt to revive the ecosystem.
The city of Mobile, Alabama has embraced crypto with a project for sustainable Bitcoin (BTC) mining using 100 Bitmain Antminer S19s.
Meta’s former crypto chief David Marcus introduced Lightspark, a new project that aims to expand the capabilities of Bitcoin and the Lightning Network.
Infinity Wallet now supports the Cronos chain, including CRC20 tokens and DApps.
Cronos (CRO) saw a +4.25% increase in total transactions to 40.96M, while the total number of wallet addresses increased to 802,670, up +5.43% 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

17 May 2022|MARKET UPDATES

Weekly Layers 1 & 2 Update (Week 19, 10/05/2022 – 16/05/2022)

Terra blockchain restarts after LUNA price crash. New BTC mining project launches in Mobile, Alabama. Ex-Meta crypto chief unveils Lightspark, a new project for enhancing Bitcoin, Lightning Network.

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