Ethereum Weekly Recap | June 27th- July 3rd, 2022

This weekly recap on Ethereum is for informational purposes only and is not investment advice. The recap will briefly summarize the outstanding activities of Ethereum over the past week from June 27th to July 3rd. The market is still struggling in this area. The buyers and sellers have not created an advantage for themselves. However, the $18,000 support zone is quite solid. It’s been a support zone around here for 16 days and has not been broken. The Ethereum ecosystem has also been hit hard. Let’s go to the numbers in more detail.

Network Growth

Daily Transactions

Daily transactions on Ethereum from June 27th- July 3rd are at a current level of 7.55M transactions. Up 8.8% (last week’s total transaction is: 6.89M). The highest number of 1,716,600 transactions was on Sunday, May 9, 2021. The lowest number of 1,329 transactions was on Sunday, August 9, 2015. The number of daily transactions was increase from the previous week. The total transaction up of 664,983 transactions. In last week ETH price continued to drop over 23% from $1237 -> the lowest price is $1001. However the transactions increase this meant that a large number of users continued to sell assets, which created a dominant selling volume.

Unique Addresses

Ethereum Cumulative Unique Addresses is at a current level of 200M and according to, between June 27th- July 3rd, Ethereum has added 519,817  new and unique addresses to its network, up 0.26% (last week daily increase is: 479,404  addresses). The chart shows the total distinct numbers of addresses on the Ethereum blockchain and the increase in the number of addresses daily. Looking at the chart, we can see that unique addresses are always increasing event whether the market is bad or volatile.

Active addresses

The daily active address count is 466,046 addresses with a received count: of 354,379 addresses and sends count of 229,071 address. The active addresses reduce compared to last week’s  512,375 addresses. The chart shows the daily number of unique addresses that were active on the network as a sender or receiver in last week has reduce.This index has been decreasing continuously for 4 last weeks. If you have a compare you will see with 200M unique addresses just have 466,046 daily active address, this is a very small number. Proving that the number of participants in Eth chain is very much, but the number of real accounts is not as much as we think.

Total Value Locked

The total value locked on Ethereum is taking 1st place with $45.72b take 62.8% of all chains it’s down 1.27% compared to last week ($49.06b). Last week was a week with the sideway and reduce of the whole market, not just Ethereum. The price of tokens has down, there is no panic sell like last week. But, this is still not considered a safe state for the whole market when the bad news appears, the big players are also still sell their assets.

Total Stablecoin Supply

Total Ethereum Stablecoins Market Cap is $91.63b up 0.1% from last week, taking over 59.48% of Total Stablecoins Market Cap ($154.03b). In which USDC dominance: 44.22%, USDT dominance: 30.89%, BUSD dominance: 13.1%. The total supply of stable coins on the Ethereum chain has same the past week. With Dapps dominating, Defi applications are increasingly being used by many people on the Ethereum chain that has attracted a huge amount of stablecoins to the Ethereum chain. And we can see that USDC is still the stablecoin that is most utilized and trusted by users.

Highlight Events

Gray Glacier upgrade (delay difficulty bomb) successful

The second of three public testnets to merge will occur next week, with Sepolia to turn off PoW forever sometime between Saturday and Wednesday, depending on hashpower Mainnet-shadow-fork-8 merges July 5. Gray Glacier upgrade (delay difficulty bomb) successful. One block on wrong chain, estimate 0.2% of hash rate didn’t upgrade

For more information at: CLICK HERE

Sepolia Merge Announcement

Sepolia, the second of three public testnets, is merging. If you run a node on the network, now is the time to upgrade to an EL/CL combo. Sepolia will be the second of three public testnets to run through The Merge. The network will transition to proof-of-stake when the total difficulty on the proof-of-work chain exceeds 17,000,000,000,000,000, which is expected to occur around in the next few days. Post-merge, Sepolia will have a permissioned validator set, like existing proof-of-authority testnets. Goerli/Prater, which will merge at a later date, will maintain an open validator set to allow for stakers to test the transition.

For more information at: CLICK HERE

EIP-4488: Ethereum Improvement Proposal

The problem of high gas fees has been plaguing Ethereum for many years now, and many developments have been proposed to solve this problem. Some of them are layer 2 solutions, while others are geared towards fundamentally changing the network. EIP-4488 – an upgrade that plans to reduce gas through some interesting mechanisms. This article will explain what EIP-4488 is and how it works.

For more information at: CLICK HERE

Defi Lego – DEX

Lido Finance votes against self limit

Voting on the proposal is open from June 24 to July 1 and currently, over 99% of voters are against limiting the amount of Ethereum staked on Lido. Liquid staking service provider Lido issues a new governance proposal asking the community to vote ‘for’ or ‘against’ limiting Ethereum staking on the protocol.

The proposal titled “Should Lido consider self-limiting?” states that if the self-limit option wins, the team will figure out what form of self-limiting they should implement on the second leg of the vote. Voting on the proposal is open from June 24 to July 1, however, the present results indicate that most voters are against limiting the amount of Ethereum staked on Lido. Until now 0.19% of voters selected “yes, let’s self-limit,” compared to over 99.81% who chose “no, don’t self-limit.”

For more information at: CLICK HERE

Compound Labs Launches Compound III Lending Protocol

Compound Labs, the team behind the decentralized finance (DeFi) lending protocol Compound, released code for a multi-chain lending protocol dubbed Compound III on Tuesday. Compound III is intended to be a governable protocol that’s both affordable in capital and transaction fees. One way it’s doing this is by including a single borrowable base asset — with all other assets collateralized — to reduce risk and improve capital efficiency, Compound Labs’ vice president of engineering Jared Flatow wrote in a Wednesday post.

For more information at: CLICK HERE

Celsius Offers Many New Solutions To Minimize User Losses

Based on the latest report from the company, Celsius said it is focusing and working as quickly as possible to stabilize liquidity and get the platform back to normal. Also, in the coming time, this lending platform will actively communicate more closely, more often, with the entire community and all corporate customers in the hope of overcoming this challenging period. Accordingly, Celsius will continue to take necessary steps to preserve and protect user assets and promote the options available on the platform in the most efficient way. The resolution will be mainly aimed at pursuing strategic transactions as well as restructuring many of the company’s debts.

For more information at: CLICK HERE


Axie Infinity Announces Land Staking Feature

The Play-to-Earn Axie Infinity project on July 1st launched the staking feature of NFT Lands to receive rewards in the form of AXS tokens. According to the latest announcement from Axie Infinity, game players can now start locking Land NFTs in the game to receive AXS tokens.

Land is originally NFTs of land for Axie’s future plan, called Project K. Accordingly, players will own their own plots of land, conduct livestock/farming on it, and then go to battle with enemies. together. Project K is expected to turn Axie Infinity into a true metaverse game. In the meantime, Axie Infinity will provide players with a way of passive income from staking Land.

For more information at: CLICK HERE

Axie Infinity Hosts World Championship With $1 Million AXS Prize

On July 1, Axie Infinity announced that it had started selling tickets for AxieCon, the first-ever P2E gaming conference, held in Barcelona (Spain) from September 7 until September 10, 2022. Game developer Sky Mavis announced AxieCoin is a place where Axie Infinity game lovers can gather and share the project with the mission, vision, and development roadmap in the near future.

Axie Infinity said it will hold the Axie Infinity World Championship on the occasion of AxieCon, including a total of 3 tournaments with a total prize pool of $1 million AXS tokens.

For more information at: CLICK HERE

Alpha Venture DAO Introducing -ZAAP, “Swiss Army Knife” for NFT Projects

ZAAP, the perfect NFT toolkit & platform for any artists, art dealers, art agencies and art galleries. Despite their team expertise as DeFi builders and project incubators, they have to admit that we love NFTs. Their team from the Alpha Build arm, have been looking into the NFT market and exploring any key opportunities to capture.

As a result of our research, they discovered that there is a huge demand to enter the NFT space from a variety of people, not only from web3/crypto space but also from the current players in the traditional art market. They immediately recognize big obstacles that prevent them from entering the NFT market. These hurdles are roughly 3 main points: lack of technical knowledge, difficulties understanding crypto audiences and difficulties maintaining and troubleshooting during and post launch.

For more information at: CLICK HERE


The above are some significant new developments in the Ethereum ecosystem that occurred in the past week. There are still worthwhile initiatives in the works. But with the effect of BTC on the whole market, next week there may be more serious declines. Keep a look out for the announcement next week.

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DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.


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