Key Takeaways

Despite macro headwinds and a recent price decline, Bitcoin’s (BTC) hashrate continued climbing higher as the 105,000th block was mined — marking 50% of the journey into its next halving.
In the Ethereum (ETH) AllCoreDevs Update 011, Tim Beiko highlighted the technical requirements needed for the Merge to happen in a seamless manner — continued Mainnet shadowforks without returning any errors.
The Cronos mainnet upgrade v0.7.0 ‘Huygens’ was successful. The upgrade introduces variable transaction fees depending on network utilisation and the performance of the node storage.
Cronos (CRO) saw a +5.44% increase in total transactions to 39.29M. The total number of wallet addresses now stands at 761,368, up +3.93% 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

10 May 2022|MARKET UPDATES

Weekly Layers 1 & 2 Update (Week 18, 03/05/2022 – 09/05/2022)

Bitcoin’s hashrate climbs, reaches halfway point towards next halving. Ethereum developer Tim Beiko highlights requirements for seamless Merge. Cronos ‘Huygens’ mainnet upgrade launches successfully.

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