Weekly Update - Layer 1 & Layer 2 News (Week 8, 22/02/2022 – 28/02/2022 )
BTC network’s daily raw hashrate sinks to 173.8 EH/s then climbs to 214.1 EH/s. Luna Foundation Guard raises $1B in reserves for UST.
Key Takeaways
Intraweek, the Bitcoin (BTC) network’s daily raw hashrate dipped to a low of 173.8 EH/s before bouncing up to 214.1 EH/s. The network remained largely unaffected by the ongoing geopolitical conflict.
The number of unique validators on the ETH 2.0 Beacon Chain crossed the 300,000 mark. The total number of ETH wallet non-zero addresses reached 76.3M despite volatility in recent weeks.
The Luna Foundation Guard raised $1B in reserves to support the Terra network stablecoin (UST) over a four-year vesting period.
Cronos (CRO) saw a +7.07% increase in total transactions to 18.47M, while its TVL grew to $2.34B (+23.83% week-on-week). The total number of wallet addresses now stands at 403,533, up +3.18% from last week.
Highlights
Russian miners keep running, may see pivot to Bitcoin in response to sanctions
Thousands of Ethereum coders bring their grunge-hacker vibe to Denver
Yearn launches its first Ethereum layer-2 service on Arbitrum
Ethereum validators near 300,000 as amount of ETH staked surpasses 9.5 million
Ethereum mining pool Flexpool halts all services to Russia in wake of Ukraine invasion
Ethereum gets an upgraded scaling Testnet – and it's actually years ahead of schedule
Ethereum scaling solution StarkNet completes launch – with goal to move to community control
Cardano interoperability with Ethereum in the works as Bridge Testnet launches
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