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Breaking down Ethereum 2.0 and its sweeping impact on crypto markets By Teddy Oosterbaan September 15, 2021 Sponsored by ETH Price +2.9% $3,322.65 Market Cap $392.1B Volume (24H) $34.91B (As of 9/14/21 @ 12:15 UTC. ETH price % change over 24 hours.) If you were forwarded this newsletter and would like to receive it, sign up here.
Over the past few weeks, the crypto market has seen increased adoption of alternative layer 1s and Ethereum layer 2s and side chains. Demand for cheaper on-chain activity appears to have grown by multiples as normal users have been priced out of interacting with Ethereum’s base layer. To meet this increased demand, approaches to scaling Ethereum include alternative chains like Solana and Avalanche, layer 2s like Optimism and Arbitrum, and side chains like Polygon.
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Pulse check
The following is an overview of network activity on the Ethereum 2.0 Beacon Chain over the past week. For more information about the metrics featured in this section, check out our 101 explainer on Eth 2.0 metrics. Disclaimer: All profits made from CoinDesk’s Eth 2.0 staking venture will be donated to a charity of the company’s choosing once transfers are enabled on the network.
A message from Masterworks.io Pop quiz hotshot: you have $100,000. What do you invest in? A jpeg of a rock 395,871 DOGE A Banksy painting
Bloomberg asked the foremost financial bros on Wall Street, and they overwhelmingly recommended alternatives—like art. Investing in iconic works of art that sell for tens of millions sounds like a better deal than jpegs and joke coins. In fact, 72% of private banks offer art investing services to their clients. You know, people who actually do this stuff for a living. Hundreds of investors already cashed in a 32% return on a Banksy painting using this art investment platform.
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Validated takes Arbitrum One’s total value locked (TVL) passed $1.5 billion within 11 days of launch. TAKEAWAY: With one dapp, Arbinyan, making up around 88% of TVL, Arbitrum is ripe for new development. Protocol builders and incentives programs have had difficulty keeping up with the demand for layer 2 usage. Early developer teams have a significant opportunity to access capital.
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Factoid of the week
Our Bitcoin for Advisors 2021 event is now fully virtual. Join from anywhere on Oct. 6 to connect with over 300 investment advisors and learn how bitcoin, ethereum and other digital assets can successfully impact your clients’ portfolios. Apply today.
Open comms Valid Points incorporates information and data about CoinDesk’s own Eth 2.0 validator. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check out our announcement post.
You can verify the activity of the CoinDesk Eth 2.0 validator in real time through our public validator key, which is: 0xad7fef3b2350d220de3ae360c70d7f488926b6117e5f785a8995487c46d323ddad0f574fdcc50eeefec34ed9d2039ecb.
Search for it on any Eth 2.0 block explorer site!
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