Weekly Update - Layer 1 & Layer 2 News (Week 26, 28/06/2022 – 04/07/2022)
Ethereum delays difficulty bomb and Sepolia testnet prepares for the Merge. Compass Mining denies unpaid bills comments amidst CEO&CFO resignations. Cardano successfully launches Vasil on its testnet.
Key Takeaways
Ethereum (ETH) developers delayed the difficulty bomb to mid-September, while the Sepolia testnet is ready for the Merge trial.
Compass Mining denied comments about unpaid electricity bills, while the CEO and CFO resigned, citing ‘setbacks and disappointments’.
Cardano (ADA) successfully launched the Vasil upgrade on its testnet.
Cronos (CRO) reached US$1.37 billion total value locked, increasing +18.62% from last week.
Highlights
Bitcoin Lightning Network developer updates node software with Taproot support
Optimism’s TVL doubles as trading activity surges on Layer 2s
Battle-hardened Ronin bridge to Axie reopens following $600M hack
Bitcoin miners unmoved by BTC price crash as mining power remains stable
Marathon Digital says Montana storm knocked out most Bitcoin rigs
Cardano becomes most actively developed project in crypto industry
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
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