Weekly Update - Layer 1 & Layer 2 News (Week 10, 08/03/2022 – 14/03/2022 )
ETH investment funds reach record-high inflows in 13 weeks. EU parliament votes against ban on Proof-of-Work consensus. Layer 2 solution developer StarkWareLtd raises $100M at $6B valuation.
Key Takeaways
Ethereum (ETH) investment funds recorded their largest inflows in 13 weeks against a discouraging investment backdrop. In addition, the Eth 2.0 deposit contract crossed the 10M ETH mark as the community continues to support the network’s transition.
The European Parliament voted against a proposed ban on proof-of-work (PoW) mining under the Markets in Crypto-Assets (MiCA) legislation, which would have blocked member states from mining PoW cryptocurrencies like Bitcoin (BTC).
Layer 2 solution developer StarkWare raised USD 100M at a $6B valuation. StarkWare provides two layer 2 solutions, StarkEx and StarkNet. Recently, the developer launched StarkNet at the end of February.
Cronos (CRO) saw a +8.07% increase in total transactions to 21.55M, while its TVL grew to $2.73B (+14.51% week-on-week). The total number of wallet addresses now stands at 442,534, up +3.94% from last week.
Highlights
Ethereum 'Merge' edging closer with final Kiln testnet launch
Now You can try 'teleporting' bitcoin for greater privacy with CoinSwaps
How El Salvador is fixing Chivo Wallet, trying to get Bitcoin adoption back on track
Polygon network back up with a 'temporary fix' after eight-hour stoppage
Cosmos’ Inter-Blockchain Communication Protocol (IBC) surpassed 11 million transfers in February
Fantom Foundation issues clarification statement about departure of Andre Cronje and Anton Nell
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