Even though the bear season is still going on, both Ethereum and Layer 2 are getting stronger every day. Here is a recap of the Ethereum Weekly Ecosystem.

Key Takeaways

  • Ethereum & Layer-2s On-chain Data Highlights
  • LayerZero is now live on Metis Andromeda Mainnet
  • Binance listed MAGIC in the Innovation Zone Open trading
  • zkAnimals partnership with Orbiter Finance

Ecosystem Updates

Optimistic Rollups have the short term advantage of EVM compatibility, which means Ethereum smart contracts can be deployed directly on these chains. Optimism is also announcing they will airdrop the 2nd batch in February 2023

Ethereum & Layer-2s On-chain Data Highlights​​

Ethereum Weekly Recap Week 50 -1

Indicators like the total amount of Ethereum locked up in L1 and the number of active addresses show that both the Ethereum and Layer-2s ecosystems grew a little bit over the past week. One of these data points is the number of addresses that are currently in use.

Both ecosystems showed signs of the changes we’ve talked about. Even though the market for cryptocurrencies is expected to go through a lot of ups and downs in the future, the person who made the cryptocurrency will always stay in a stable state so that they can keep helping society and making new things.

Weekly Highlight News

Ethereum News

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Binance listed $MAGIC in the Innovation Zone Open trading
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Binance has announced that they have listed $MAGIC (Treasure) in the Innovation Zone and will open trading for these spot trading pairs

MAGIC is a token for the Treasure gaming infrastructure project on Arbitrum, which includes core products like Bridge world, The Beacon and Trove. In this ecosystem, Magic acts as a governance and utility token.

After listing MAGIC in the Innovation Zone, Binance will open up trading with the token in a specific trading zone that includes innovative tokens. By separating tokens like MAGIC from regularly traded assets, Binance protects users from extensive volatility and higher risk.

LayerZero is now live on Metis Andromeda Mainnet

Ethereum Weekly Recap Week 50 - 2

LayerZero has announced that they’re now officially live on Metis Andromeda Mainnet.

LayerZero is an interoperability protocol that uses a novel technique to make it easier for different blockchain networks to connect with each other.

Metis is a layer-2 scaling solution for Ethereum launched in 2021, designed with the specific aim of building more robust, value-creating DAOs.

Key Metis Features

  • Optimistic Rollup
  • Polis
  • Metis Virtual Machine (MVM)
  • NFT Bridging

Metis innovates layer-2 scaling. Its layer-2 has industry-leading scalability, processing nearly three million transactions since launch.

zkAnimals partnership with Orbiter Finance

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zkAnimals has announced a strategic partnership with Orbiter. 

Orbiter Finance is a decentralized cross-rollup bridge for transferring the Ethereum native assets, which is the infrastructure of Layer 2, it offers low cost and almost instant transfer. 

Both of them will give away 20WL Orbiter Pilots from zkAnimals.

Additional Notable Events

Notable Threads of the week 
Ethereum Weekly Recap Week 50 - 3
Additional Ethereum News
Ethereum Weekly Recap Week 50 - 4

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Related: Avalanche Weekly Recap Week 50 (8/12 – 16/12)