Grayscale Adds Lido to DeFi Fund, Making it Second Largest Asset
Grayscale has added Lido to its DeFi fund, becoming the second-largest asset with a 19.04% share. Lido's liquid staking service offers stETH, the seventh-largest cryptocurrency, which provides cheaper staking on Ethereum. However, Grayscale's DeFi fund has underperformed since its launch, with a significant decline of over 73% and only $3.1 million in assets, in contrast to Grayscale's Bitcoin Trust, which has over $18 billion. Lido met the requirements for CoinDesk's DeFi Select Index (DFX) and was officially included in July.
Vitalik Buterin Discusses Bitcoin's Builder Culture and Layer-2 Solutions in Twitter Spaces Session
Vitalik Buterin, Ethereum co-founder, participated in a Twitter Spaces session where he discussed new developments on the Bitcoin blockchain, specifically praising the introduction of Bitcoin Ordinals as a revival of the "builder culture" and a shift away from stagnant politics. He suggested Bitcoin developers prioritize layer-2 solutions and improving the efficiency of the base layer, but faced criticism from Bitcoin fundamentalists who argue that Smart Contracts and NFTs dilute Bitcoin's core peer-to-peer cash functionality.
Ordinals Space Expands with BRC-20 Tokens and Cross-Chain Storage for NFT-like Assets
The Ordinals space, enabling the creation of NFT-like media assets on the Bitcoin blockchain, is experiencing rapid growth with the introduction of new products and the expansion of BRC-20 tokens to Ethereum. ORDI and OXBT, leading BRC-20 tokens, have partnered with Emblem to launch BRC-20 Curated Collections, enabling cross-chain token storage. These collections are significant as they provide insight into the nature of BRC-20 assets, with resulting NFTs being traded on OpenSea and Blur marketplaces.
Avail Launches Testnet Data Availability Bridge for Ethereum-Compatible Validiums
Avail, a blockchain network, has launched a testnet data availability bridge to Ethereum. The bridge will allow developers to create low-cost layer-2s called "validiums" that do not store full transaction data on Ethereum. This will reduce transaction fees and pave the way for a more efficient layer-2 and layer-3 ecosystem. Avail was originally created by Polygon Labs and was spun off as an independent project in March.
Ethereum Domain Name Service ENS: Generated $1.5 Million in Protocol Revenue in June, All of Which Have Flowed Into ENS DAO
The Ethereum domain name service ENS tweeted that it generated $1.5 million in agreement revenue in June, all of which had flowed into ENS DAO. In June, 36,000 new .eth domain names were registered, and there are currently a total of 2.72 million domain names.
Bitcoin’s Ordinals Signal Return of Builder Culture, Says Ethereum Co-Founder
Ethereum co-founder Vitalik Buterin believes that the introduction of Bitcoin Ordinals represents a return to a culture of "doing things" within the Bitcoin network. Buterin praised the Ordinals and the BRC-20 token standard for rejecting stagnant politics in the Bitcoin ecosystem.
Lending Protocol Aave Released the “Aave V3 Deployment on Linea Testnet” Vote Has Been Approved by 99.98%
The lending protocol Aave released a vote to deploy Aave V3 on the Linea test network as a transition to the upcoming main network deployment, and has currently received 99.98% approval. Linea is a scalable L2 network based on Ethereum, driven by the zkEVM technology stack incubated by Consensys, designed to support a broad ecosystem and cooperate with products such as MetaMask, Infura and Truffle.
Based rollup: Sequenced by Ethereum
There exist risks of sequence centralization in current rollup networks, and various sequencing layer projects are being launched to solve this problem.
Ethereum Price Consolidates Around $2K Resistance After Rally
Ethereum's price broke through the 100-day moving average and upper trendline of a descending channel, leading to a significant rally that reached the resistance level of $2K. However, the price has since faced rejection and is now consolidating around this crucial resistance.
Celsius Network Transfers Altcoins for Conversion to Bitcoin and Ethereum, CEL Price Falls and Former CEO May Face CTFC Probe
Cryptocurrency lending firm Celsius Network has started converting its assets into Bitcoin and Ethereum, with pre-owned altcoins being moved into new wallets. This move follows approval from the US Bankruptcy Court in New York on 1 July.
