What Happened on April. 3rd | $ETH Deflation Continue, Layer 2 Gas Spend New High
Since the merge, $ETH’s supply has reduced by ~75k+ $ETH, compared to an increase of 2.2k ETH issued if it remained PoW, resulting in a selling pressure reduction of $135M over the course of the past 200 days.
Layer 2 demand for Ethereum block space has been rising continuously. In March, Layer 2 gas consumption has more than double that of February, and now accounts for 8.11% of all gas spent on Ethereum.
Biggest Gainers & Losers

Headlines
Arbitrum Foundation Admits 10m $ARB Sold Before Vote, Pledges New Vote and No Further Sales: The Arbitrum Foundation has faced backlash from the community after it held a "ratification" vote on decisions it had already implemented, including selling $ARB tokens for stablecoins even before its governance community of tokenholders had "ratified" the organization's nearly $1 billion budget.
Hot projects on the market
MM.Finance's Public Offering on Arbitrum is 364 times oversubscribed
All Fees of dYdX v4 will go to Validators/Stakers, says Founder
Other news in case you missed it:
Some MEV Bots Attacked, Losing Over $20 Million
KBS: Seizure amount for Terra/Luna Case exceeds 200 Billion Won
Bybit Is Establishing Its Core Asian Operations in Hong Kong
Dune Launches AI Feature to Simplify Data Queries, Aiming to Bring Natural Language Querying
Ethereum
Arbitrum
Layer 2
