Key Takeaways

Terra was rebranded as Terra Classic (LUNC), while its hard fork Terra 2.0 (LUNA) commenced with an airdrop for previous holders. After peaking at $19.53, the new LUNA is trading at around $9.67 as of the time of writing.
Ethereum (ETH) is preparing for the Merge, with 10% of its token’s circulating supply now being staked in ETH 2.0 and developers agree to delay the difficulty bomb by two to four months.
The mining difficulty of Bitcoin (BTC) dropped by 4.3%, while the capacity of the Lightning Network reached an all-time high of 3,900 BTC.
Cronos (CRO) reached 44.03M total transactions, an increase of +3.86% 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, 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

31 May 2022|MARKET UPDATES

Weekly Layers 1 & 2 Update (Week 21, 24/05/2022 – 30/05/2022)

Terra 2.0 launches with airdrop for previous Terra holders. Staking for ETH 2.0 reaches 10% of ETH circulating supply. Bitcoin Lightning Network’s capacity reaches new high at 3,900 BTC.

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