Weekly Layers 1 & 2 Update (Week 12, 22/03/2022 – 28/03/2022)

ETH’s Shanghai upgrade will boost EVM, reduce Layer-2 fees. BTC’s Lightning network completes it first stablecoin transaction. Polygon unveils a new token burn mechanism.

Mar 29, 2022
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Key Takeaways

  • Ethereum (ETH)’s latest AllCoreDevs updates talked about the highly anticipated next upgrade named Shanghai, which will incorporate Ethereum Virtual Machine (EVM) upgrades, Beacon Chain withdrawals, L2 Fee reductions, and more. 
  • Bitcoin (BTC)’s Lightning network completed its first stablecoin transaction.
  • Layer 2 solution Polygon (MATIC) introduced a new token burn mechanism called ‘Mobile burn’ to move towards deflationary tokenomics and more predictable gas prices.
  • Cronos (CRO) saw a +8.07% increase in total transactions to 25.04M, while its TVL grew to US$3.67B (+12.83% week-on-week). The total number of wallet addresses now stands at 489,967, up +6.31% from last week.

Highlights

Layer 1 Project Metrics

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Sources: Coingecko, Etherscan, Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan, CronoScan, Cronos Explorer, DeFi Llama

Layer 2 Project Metrics

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Sources:  DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer

Tags

crypto

crypto research

cryptocurrencies

layer 1

layer 2

Market

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