jakiro
Author: Climber, Bitchain Vision
Recently, the US SEC officially approved the 19b-4 documents of 8 Ethereum spot ETFs.Although ETF issuers still have to wait several weeks before trading after the S-1 registration statement takes effect, the adoption of this ETF is still a shot of augmentation for Ethereum and the crypto market.
Looking back at this bull market, Ethereum price trend is not satisfactory, and the approval news did not allow ETH to break through the previous high.However, the mainstream market view is still optimistic about the long-term trend of ETH, and Standard Chartered Bank predicts that ETH will rise to US$8,000 by the end of this year.If Ethereum can really copy the trend of Bitcoin spot ETF as it wishes, then the most relevant sector projects are likely to be the beneficiaries.Today, Bitchain Vision will take a look at several potential sector projects that are strongly related to Ethereum narrative (data is as of writing).
1. L2
Arbitrum:
Arbitrum is an Optimistic Rollup built on Offchain Labs. It is currently the leader in the L2 track with TVL of about $19 billion.The ARB price is now $1.253, which had previously risen to around $2.2, with a total market value of $3.314 billion.
Recently, the Arbitrum community is carrying out a proposal for the “200 million ARB Game Catalyst Plan”.
Optimism:
Optimism is the second in the L2 track, with TVL about US$7.59 billion.The ARB price is now $2.57, after rising to around $4.87 in March this year, with a total market value of $2.716 billion.
Recently, Optimism’s fourth round of traceable public goods fundraising applications have been opened, and it has launched a superchain application deployment rebate program.
Metis:
Metis is the first decentralized sorter of layer2, and it is rumored that the founder is a friend of God V’s mother.METIS price is now $80.69, with a previous high of $134.64 and a total market value of $462 million.
At the end of April this year, Metis completed the second phase of the decentralized sequencer upgrade and introduced the sequencer mining mechanism.
Starknet:
StarkNet is created by Israeli software company StarkWare, a zk-rollup L2 that uses zk proof to create an off-chain execution layer for Ethereum.The STRK price is now $1.297, with a previous high of $2.67 and a total market value of $1.47 billion.
Recently, StarkWare launched a plan to promote Starknet ecosystem innovation with an initial budget of 5 million STRK.
2. Re-pled
ether.fi:
Ether.Fi is an infrastructure-based staking protocol based on Ethereum. Ether.Fi allows participants to retain control deposits on their keys to Ether.Fi when proxying staking and will automatically restake with Eigenlayer.ether.fi is now at $5.3, with a previous high of $8.66 and a total market capitalization of $610 million.
Recently, ether.fi announced the launch of the “Staking Frens” campaign, where users can obtain token rewards through staking.
Renzo:
Renzo is a liquidity re-staking platform built on EigenLayer, and is also an important interface of the EigenLayer ecosystem. It is used to ensure active verification systems (AVS) and provide higher returns than ETH staking.Renzo provides users with re-staking channels by automating liquidity re-staking strategies and using the synergy between smart contracts and operator nodes to manage risk and profit strategies.
The REZ price is now $0.1616, with a previous high of $0.2 and a total market value of $186 million.
Recently, Renzo has opened up REZ staking, and Season 1 airdrop holders can receive a 50% bonus.
AltLayer:
AltLayer is an open and decentralized rollup protocol. On the one hand, it provides enhanced security, decentralization and interoperability by adopting a Rollup stack (such as OP Stack, Arbitrum Orbit, ZK Stack, etc.); on the other hand, it provides enhanced security, decentralization and interoperability through EigenLayer.The re-pled mechanism improves economic security and also lays the foundation for the robustness and sustainability of the network.
The ALT price is now $0.376, with a previous high of $0.695 and a total market value of $414 million.
AgentLayer plans to launch its third phase of the project on the AltLayer testnet in June.
3. DeFi
Pendle:
Pendle is built on multiple chainsinterest rateDerivatives Agreements, where users can purchase assets at discounted prices, participate in various income strategies, or earn income by providing liquidity to the fund pool.At the same time, users can “die coupons” the interest-generating token assets, split them into independent transactions of interest payment and principal payment, and mint corresponding tokens.
The PENDLE price is now $7.16, with a previous high of $7.538 and a total market value of $1.074 billion.
Recently, Pendle TVL has exceeded US$6 billion, setting a record high.
Lido DAO:
Lido is a non-custodial Ethereum 2.0 liquidity staking protocol. Users can participate in the staking of Ethereum 2.0 with any ETH on Lido, without building nodes, and the staking token stETH can be freely circulated through the DeFi AMM mechanism to participate.DeFi market other services.
The LDO price is now $2.62, with a previous high of $4.038 and a total market value of $2.358 billion.
Recently, the Lido community voted to pass the proposal of “Creating Lido Contributors Alliance Working Group”. In addition, data shows that the staking rate of Ethereum has reached 27.15%, and the market share of Lido has reached 28.54%.
Uniswap:
UNI rose to a maximum of US$45 in the last bull market, and the temporary high of this round was US$17.05.UNI is currently priced at $11.01 and its market value is approximately $6.615 billion.
Recently, Uniswap Labs received a notification from the US SEC.
MakerDAO:
MakerDAO is an over-staked stablecoin protocol. The overall logic is that users stake assets supported by the protocol, thereby obtaining a decentralized stablecoin DAI anchored to the US dollar.The price of MKR is now $2,814, with a previous phased high of $4,074 and a total market value of $2.617 billion.
Recently MakerDAO announced that it will launch SparkDAO and plans to launch a new stablecoin PureDai.
4. Others
ENS:
Ethereum Name Service (ENS) is a distributed, open and scalable naming system based on Ethereum.The Ethereum Name Service’s job is to map human-readable names (such as “alice.eth”) to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashings, and metadata.
The ENS price is now $26.07, with a previous phased high of $30.50, and its total market value is about $835 million.
Recently, vitalik buterin said that ENS is their most successful non-financial application.
PEPE:
PEPE Coin is a deflation meme coin based on Ethereum, inspired by the Pepe the Frog network meme.
On May 27, PEPE broke through US$0.000017, setting a record high.The current PEPE market value is US$7.091 billion.
PEOPLE:
ConstitutionDAO was once a crowdfunding campaign aimed at buying the first edition of the U.S. Constitution.PEOPLE is a token that represents the ConstitutionDAO share.As the bid for the document failed, PEOPLE now also represents the historic DAO movement.
The price of PEOPLE is now US$0.083, a temporary high since its listing recently, with a total market value of approximately US$415 million.
