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 Union (EU) Parliament voted against the banning of the Proof-of-Work consensus under the Markets in Crypto-Assets (MiCA) legislation, with 24 lawmakers voting against and eight abstaining.

• 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

• Ethereum gas fees drop to lowest levels since August 2021

• Block's wallet will have a fingerprint sensor, not a screen

• 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

Thank you for reading! We hope you find our Weekly Layer 1 & Layer 2 News Update enlightening!

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