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
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
Author
Research and Insights Team
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