In our 4-part series named “The Value of Ether”, we have discussed in detail the framework in which we think it is most appropriate to link value accrual to ETH token holders with the underlying mechanics that operate the Ethereum blockchain. More specifically, we have laid out a case on how increased usage of the network has an impact on supply dynamics and can therefore have a knock-on effect on the value of the Ether token.

According to Etherscan data, the current Ethereum network gas fee has dropped to 9 gwei.

DefiLlama data shows that the total value locked (TVL) in Ethereum's liquidity re-collateralization protocol has reached 8.902 billion US dollars, with a 24-hour increase of 7.8%.

DefiLlama data shows that the TVL of Ethereum's liquidity re-collateralization protocol has reached 8.777 billion US dollars, with a 24-hour increase of 7.50%.

Dinari, a securities investment platform, has integrated Chainlink CCIP (industry standard for secure cross-chain interoperability) on Arbitrum One and Ethereum mainnet. Dinari is utilizing CCIP's Simplified Token Transfer feature to facilitate cross-chain transfers of USD+, a fully supported interest-bearing stablecoin by Dinari, enabling USD+ to power payments across the entire on-chain economy and provide collateral.

According to Etherscan data, the current Ethereum network gas fee has dropped to 10 gwei.

According to a report by Brazil's Inter, Ethereum's recent Dencun upgrade introduced "Blob," which increased network scalability of the second layer (L2) blockchain by more than 11 times. Blob is the space within Ethereum blocks that is dedicated to receiving data from L2 chains such as Arbitrum, Optimism, and Base.

Following the successful Dencun upgrade, Ethereum developers are planning the next upgrade, called "Pectra," which aims to include small improvements while simultaneously working on the chain's next upgrade. The upgrade is likely to include EIP 3074, which proposes code changes to improve the user experience of Ethereum wallets by allowing users to batch transactions and sign off on them all at once. Another proposed change is EIP 7251, which would increase the staking limit for validators from 32 ETH to 2,048 ETH, allowing large staking providers to consolidate their validators and avoid bogging down the system. The upgrade is expected to be released at the end of 2024 or early 2025.

According to L2BEAT data, the current Ethereum Layer2 TVL is $42.81 billion, with a 7-day increase of 4.97%. Among them, the top five TVLs are: -Arbitrum One TVL is $18.95 billion, with a 7-day increase of 3.87%;-OP Mainnet TVL is $7.55 billion, with a 7-day increase of 2.12%; -Base TVL is $5.53 billion, with a 7-day increase of 17.85%; -Blast TVL is $2.9 billion, with a 7-day increase of 10.12%; -Starknet TVL is $1.36 billion, with a 7-day increase of 1.33%.

According to blockchain data tracking service Whale Alert, at 11:11 am Beijing time today, 9,000 ETH were transferred from an unknown wallet to Binance, worth $32,056,995.