Weekly Update - Layer 1 & Layer 2 News (Week 13, 29/03/2022 – 04/04/2022)
19 millionth $BTC mined, network difficulty reaches record high. Intel launches new $BTC mining chip. Axie Infinity’s Ronin bridge hacked, $620M stolen.
Key Takeaways
Bitcoin (BTC) network difficulty reached an all-time high with the 19 millionth bitcoin mined.
Intel launched Blockscale, a new Bitcoin mining chip aimed at sustainability and hash rate scaling.
Axie Infinity’s layer 2 solution Ronin bridge was exploited for more than US$ 620M. The hacker moved stolen funds into the Tornado Cash tumbler.
Waves Protocol’s algorithmic stablecoin Neutrino (USDN) unpegged from the US$ dollar on the back of a new governance proposal to keep speculation at bay.
Cronos (CRO) saw a +10.50% increase in total transactions to 27.67M, while its TVL grew to US$ 4.00B (+10.32% week-on-week). The total number of wallet addresses now stands at 533,801, up +8.94% from last week.
Highlights
Polkadot, Kusama to launch Wormhole bridge to Ethereum, Solana
Chiliz plots sports, entertainment crypto ecosystem with 2.0 chain
Bengal Energy to mine Bitcoin using stranded gas wells in Australian outback
Bitcoin miner CleanSpark to add 500 MW of mining power, expand to Texas
Helium becomes Nova Labs after raising US$ 200M in fresh capital
LayerZero Labs raises US$ 135M to create omnichain crypto networks
Cardano-based smart contracts surpass 2,000 mark first time ever
Ethermine staking beta for Ethereum miner, a preparation for Ethereum 2.0
Marathon Digital Holdings announces Bitcoin production and mining operation updates for March 2022
Layer 1 Project Metrics
* % change is based on the difference between two subsequent bi-weekly periods
† X-Chain total transactions plus 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
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