{"id":553408,"date":"2023-09-28T22:00:11","date_gmt":"2023-09-28T22:00:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=553408"},"modified":"2023-09-28T18:32:46","modified_gmt":"2023-09-28T18:32:46","slug":"ethereum-winter-over-l2-exploding-eth-futures-etf","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-winter-over-l2-exploding-eth-futures-etf\/","title":{"rendered":"Is The Ethereum Winter Over? L2 Exploding, ETH Futures ETF Launches"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">After sinking roughly 30% from 2023 highs, Ethereum appears to be bouncing off from the pits of the crypto winter. Looking at candlestick arrangements in the daily and weekly charts, the coin has primary support at around $1,500 and is firm, bouncing off with decent trading volume.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">At spot rates, ETH is up approximately 3% following positive developments sparked by the increasing adoption of its layer-2 scaling solution and the recent news that VanEck, a player managing billions of assets, is preparing to launch an Ethereum derivatives product.<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/z5wcygkt\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/z5wcygkt\/\" alt=\"ETH price on September 28| Source: ETHUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">ETH price on September 28| Source: <a href=\"https:\/\/www.tradingview.com\/x\/z5wcygkt\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<h2><span data-preserver-spaces=\"true\">Ethereum Layer-2 Solutions Exploding<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Taking to X on September 28, Alex Masmej, the founder of Showtime,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/AlexMasmej\/status\/51521933\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">believes<\/span><\/a><span data-preserver-spaces=\"true\"> that Ethereum&#8217;s layer-2 ecosystem has expanded to such an extent that it no &#8220;longer makes sense to build on other platforms.&#8221;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The development and deployment of Ethereum layer-2 solutions took center stage following network congestion, which forced gas fees to spike to record highs in the last bull run. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Developers have responded to the network co-founder Vitalik Buterin&#8217;s urging. The expert believes they are quickly constructing and deploying safe, universal platforms that have gained widespread popularity.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/crypto\/crypto-whale-center-1-million\/\" target=\"_blank\" rel=\"noopener \">Report Reveals Crypto Whale Center With Majority Of Transactions Crossing $1 Million<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Layer-2 platforms bundle transactions off-chain before confirming them on-chain, allowing for faster and more cost-effective operations while benefiting from the security of Ethereum. As of September 28, there were\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/beaconcha.in\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">over<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0827,000 validators whose job is to confirm transactions and ensure that the network is secure, thanks in part to their geographic distribution.\u00a0<\/span><\/p>\n<figure id=\"attachment_553410\" aria-describedby=\"caption-attachment-553410\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-553410\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot410.png?resize=1024%2C409\" alt=\"Ethereum validator count| Source: Beacon.in\" width=\"1024\" height=\"409\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot410.png?w=1133 1133w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot410.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot410.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot410.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot410.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-553410\" class=\"wp-caption-text\">Ethereum validator count| Source: Beacon.in<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Most layer-2 solutions use optimistic rollups, including Arbitrum, Base, and OP Mainnet. However, Masmej also said that once ZK rollups, which utilize zero-knowledge proofs to validate transactions without revealing sensitive data, are available, it will end the scalability trilemma, further boosting the capabilities of layer-2 solutions.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/altcoin\/research-firm-reveals-altcoin-trading-playbook\/\" target=\"_blank\" rel=\"noopener \">Research Firm Reveals Its \u201cAltcoin Trading Playbook\u201d<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">In the founder&#8217;s assessment, high throughput options, including Solana, will be a hedge. At the same time, Cosmos, which drives blockchain interoperability, will act as a long-term source of inspiration. Meanwhile, Ethereum will continue to flourish as Layer-2 options gain traction.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Rising TVL And ETH Complex Products Launching<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">According to l2Beat\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/l2beat.com\/scaling\/summary\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">, popular solutions like Arbitrum and Base, which offer faster and cheaper processing environments while remaining coupled with Ethereum and enjoying the pioneer network&#8217;s fast-move advantage, have larger total value locked (TVL). As of September 28, layer-2 platforms have a TVL of over $10.6 billion, more than Solana&#8217;s market cap, which\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/solana\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">stood<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0at $8 billion, according to CoinMarketCap.\u00a0<\/span><\/p>\n<figure id=\"attachment_553409\" aria-describedby=\"caption-attachment-553409\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-553409\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot411.png?resize=1024%2C443\" alt=\"Layer-2 TVL| Source: L2Beat\" width=\"1024\" height=\"443\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot411.png?w=1089 1089w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot411.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot411.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot411.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/Screenshot411.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-553409\" class=\"wp-caption-text\">Layer-2 TVL | Source: L2Beat<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Beyond layer-2 adoption, ETH is being catalyzed by the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.businesswire.com\/news\/home\/20230928967258\/en\/VanEck-Prepares-to-Launch-Ethereum-Futures-ETF-EFUT\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">news<\/span><\/a><span data-preserver-spaces=\"true\"> that VanEck, a global asset manager, is preparing to introduce its Ethereum futures exchange-traded fund (ETF). Specifically, the VanEck Ethereum Strategy ETF (EFUT) will invest in ETH futures contracts provided by exchanges approved by the Commodity Futures Trading Commission (CFTC). <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Like the Bitcoin Futures ETF product, which is already being offered, the Ethereum derivative product will allow institutions to gain exposure, boosting liquidity.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>After sinking roughly 30% from 2023 highs, Ethereum appears to be bouncing off from the pits of the crypto winter. Looking at candlestick arrangements in the daily and weekly charts, the coin has primary support at around $1,500 and is firm, bouncing off with decent trading volume.\u00a0 At spot rates, ETH is up approximately 3% following positive developments sparked by the increasing adoption of its layer-2 scaling solution and the recent news that VanEck, a player managing billions of assets, is preparing to launch an Ethereum derivatives product. Ethereum Layer-2 Solutions Exploding Taking to X on September 28, Alex Masmej, the founder of Showtime,\u00a0believes that Ethereum&#8217;s layer-2 ecosystem has expanded to such an extent that it no &#8220;longer makes sense to build on other platforms.&#8221; The development and deployment of Ethereum layer-2 solutions took center stage following network congestion, which forced gas fees to spike to record highs in the last bull run. Developers have responded to the network co-founder Vitalik Buterin&#8217;s urging. The expert believes they are quickly constructing and deploying safe, universal platforms that have gained widespread popularity.\u00a0 Related Reading: Report Reveals Crypto Whale Center With Majority Of Transactions Crossing $1 Million Layer-2 platforms bundle transactions off-chain before confirming them on-chain, allowing for faster and more cost-effective operations while benefiting from the security of Ethereum. As of September 28, there were\u00a0over\u00a0827,000 validators whose job is to confirm transactions and ensure that the network is secure, thanks in part to their geographic distribution.\u00a0 Most layer-2 solutions use optimistic rollups, including Arbitrum, Base, and OP Mainnet. However, Masmej also said that once ZK rollups, which utilize zero-knowledge proofs to validate transactions without revealing sensitive data, are available, it will end the scalability trilemma, further boosting the capabilities of layer-2 solutions. Related Reading: Research Firm Reveals Its \u201cAltcoin Trading Playbook\u201d In the founder&#8217;s assessment, high throughput options, including Solana, will be a hedge. At the same time, Cosmos, which drives blockchain interoperability, will act as a long-term source of inspiration. Meanwhile, Ethereum will continue to flourish as Layer-2 options gain traction. Rising TVL And ETH Complex Products Launching According to l2Beat\u00a0data, popular solutions like Arbitrum and Base, which offer faster and cheaper processing environments while remaining coupled with Ethereum and enjoying the pioneer network&#8217;s fast-move advantage, have larger total value locked (TVL). As of September 28, layer-2 platforms have a TVL of over $10.6 billion, more than Solana&#8217;s market cap, which\u00a0stood\u00a0at $8 billion, according to CoinMarketCap.\u00a0 Beyond layer-2 adoption, ETH is being catalyzed by the\u00a0news that VanEck, a global asset manager, is preparing to introduce its Ethereum futures exchange-traded fund (ETF). Specifically, the VanEck Ethereum Strategy ETF (EFUT) will invest in ETH futures contracts provided by exchanges approved by the Commodity Futures Trading Commission (CFTC). Like the Bitcoin Futures ETF product, which is already being offered, the Ethereum derivative product will allow institutions to gain exposure, boosting liquidity. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":552639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[84309,87903,1946,89129,79567,89478,14829],"class_list":["post-553408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-arbitrum","tag-base","tag-ethereum","tag-ethereum-futures-etf","tag-layer-2","tag-op-mainnet","tag-vaneck"],"acf":[],"yoast_head":"\n<title>Is The Ethereum Winter Over? 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is The Ethereum Winter Over? 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