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 May 30th to June 5th. The short-term BTC down last week led the whole market to go down. 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 May 30th to June 5th are at a current level of 7.507M transactions. Down 0.98% (last week’s total transaction is: 7.79M). 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 is reduced from the previous week. Even last week there was a positive price change when BTC was trying to retest the 34-day EMA however is failed. We can expect BTC pullback this week and a successful test of the 34-EMA, then the whole market will be excited again and Ethereum’s activities will also improve.
Unique Addresses
Ethereum Cumulative Unique Addresses is at a current level of 197.96M and a daily increase of 495,305 addresses, down 0.2% (last week daily increase is: 596,081 addresses). The chart shows the total distinct numbers of addresses on the Ethereum blockchain and the increase in the number of address daily. Looking at the chart, we can see that unique addresses are always increasing. According to etherscan.io, between May 30th to June 5th, Ethereum has added 495,305 new and unique addresses to its network.
Active addresses
The daily active address count is 392,139 addresses with a received count: of 291,812 addresses and sends count of 220,882 address. The active addresses slightly increase compared to last week’s 467,126 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 reduced. With the market was untable, users have reduced their activity indicating and the market is gradually getting gloomier.
Total Value Locked
The total value locked on Ethereum is taking 1st place with $71.04b take 64.69% of all chains its up 1.06% compare last week ($70.28b). Last week was better than previous weeks when TVL of the system increased slightly by 1%.
Total Stablecoin Supply
Total Ethereum Stablecoins Market Cap is $92.93b up 1% from last week, take over 58.08% of Total Stablecoins Market Cap ($160.01b). In which USDC dominance: 42.57%, USDT dominance: 32.26%, BUSD dominance: 14.18%. The total supply of stable coins on the Ethereum chain has increased from 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.
Top 10 Price Performance last 7D in Ecosystem
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Highlight Events
Ethereum’s merge will change the entire climate in crypto assets
Ian Balina, Token Metrics founder and CEO, joins ‘Squawk on the Street’ to discuss cryptocurrencies’ price action in the last few days, what to watch for in the space and how Token Metrics has laid out guidance in crypto. The original Ethereum Mainnet (the proof-of-work model) which currently runs parallel to the Ethereum Beacon Chain will merge with the new proof-of-stake model.
For more information: CLICK HERE
Stake Ethereum on Lido Finance
Top services that offer low-volume staking include RocketPool, Stafi, Lido, and several crypto exchanges. The yield for each service differs, of course, but it’s all relatively straightforward. Let’s dive into Lido specifically because it’s become the most popular staking service, hosting more than 32% of all 12.7 million Ethereum staked on the Beacon Chain. In dollar terms, that means Lido currently hosts $24.3 billion at current prices.
For more information: CLICK HERE
Defi Lego
New Project
Phuture DeFi Index Built on the Phuture protocol
Composed of the top DeFi assets on Ethereum by market cap, $PDI is the new chapter in your crypto journey. PDI provides well-balanced exposure to the growing decentralized finance (DeFi) sector. The assets are weighted to spread the risk and volatility in proportion to their market capitalization, so you can ride the trends, not the extremes.
For more information: CLICK HERE
DEX
Caduceus X MultiChain Airdrop Event
Caduceus, the world’s first metaverse protocol with decentralized edge rendering, designed to provide the infrastructure layer for metaverse development, has raised $4 million in an oversubscribed Series A round jointly led by Susquehanna International Group, the leading trading and technology firm founded by Jeff Yass, and BlockFills, the world-leading market disruptive technology firm dedicated to cryptocurrency. They announcing gleam Campaign Caduceus X MultiChain Airdrop Event. You can get 2000 $CMP up for grabs #Giveaway
Time: June 3rd, 2:00 PM UTC – June 7th, 12:00 AM UTC
For more information: CLICK HERE
New launch Partner Liquity and Velodrome
Take part in the upcoming launch of VelodromeFi, a captivating #DEX model building on lessons learned from Curve, Solidly, Convex & more. That means LiquityProtocol will receive a veNFT representing ~1% of initial voting power and $LUSD will be tradable on Day 1.
For more information: CLICK HERE
Lido on Polkadot is here
Lido for Polkadot is a liquid staking solution for DOT backed by industry-leading staking providers. Stake your DOT with Lido for daily rewards and full control over your staked tokens. Lido lets users earn DOT staking rewards without needing to maintain infrastructure and enables them to trade staked positions, as well as participate in on-chain decentralized finance with their staked assets.
Lido for Polkadot gives you:
- Liquidity through tokenization — no activation delays and the ability to sell your staked tokens or use them as collateral in decentralized finance;
- One-click staking — no complicated steps;
- Decentralized security — assets spread across the industry’s leading validators chosen by the Lido DAO.
For more information: CLICK HERE
Allbridge partnering with Mercurial Finance platform for stable on Solana
Allbridge partnering with Mercurial Finance is building DeFi’s first dynamic vaults for stable assets on Solana, providing the technical tools for users to easily deposit, swap and mint stable assets to launch a new abBUSD-4Pool consisting of abBUSD, abUSDC, abUSDT and USDC.
For more information: CLICK HERE
NFT/Gaming
Prada fashion empire issues NFT on Ethereum
Fashion house Prada has officially announced its plans to release 100 NFTs alongside the offering of Timecapsule, its latest collection. Luxury brands like Gucci, Balmain, and Balenciaga are getting into all things c According to a source from Prada, on June 2, the fashion brand will be launching 100 Ethereum NFTs along with the latest release of Timecapsule skins in collaboration with Cassius Hirst, son of artist Damien Hirst.rypto, and Italian luxury fashion house is joining the crowd with the release of its own NFTs.
For more information: CLICK HERE
Verdict
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 there haven’t been many substantial changes. Keep a look out for the announcement next week.
Find more information about Ethereum:
Website: https://https://ethereum.org/en/
Reddit: https://www.reddit.com/r/ethereum
Twitter: https://twitter.com/ethereum
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
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.
Alan
Coincu Ventures
