Mon, May 27, 2024 at 07:29

• 

  Joy

  • Hey Annie!

  • Guess what?

  • The total value locked (TVL) of Ethereum Layer 2s has hit a historical record of $47 billion!🎉

  • 
• Annie

  • Wow, that's impressive!

  • What exactly does TVL mean?🤔

  
• 

  Joy

  • Great question!

  • TVL stands for Total Value Locked.

  • It's basically the total amount of assets that are being staked or locked in a specific protocol.

  • In this case, it's for Ethereum Layer 2 networks.

• Annie

  • Got it!

  • So, which networks are leading the pack?😊

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Arbitrum One is leading with a TVL of $19.3 billion.

  • OP Mainnet comes second with $7.88 billion, and Base is third with $6.94 billion.📊

• Annie

  • Interesting!

  • Are there any other networks with significant TVL?🤓

  
• 

  Joy

  • Yep!

  • Other blockchains with a TVL exceeding $1 billion include Blast, Mantle, Linea, and Starknet.🚀

• Annie

  • That's a lot of money!

  • What caused this bullish trend?📈

  
• 

  Joy

  • The trend was mainly driven by the U.S. Securities and Exchange Commission's (SEC) recent approval of spot Ethereum exchange-traded funds (ETFs) on May 23.

  • This is huge news!🗞️

  • 
• Annie

  • Oh, I see!

  • Which issuers got their Ethereum ETF applications approved?🤔

  
• 

  Joy

  • The issuers include big names like BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.

  • They're still in the process of submitting S-1 forms, but analysts expect the launch within weeks.📅

• Annie

  • That's amazing!

  • Any other updates on Ethereum?😊

  
• 

  Joy

  • Yes!

  • The Ethereum core developers have decided that Pectra, the next major upgrade of the Ethereum network, will be launched in the first quarter of 2025.🛠️

• Annie

  • Why did they choose Q1 2025 for the upgrade?🤔

  
• 

  Joy

  • They chose Q1 2025 to avoid debugging during Devcon and the holiday season.

  • This schedule also allows them to extensively test the upgrade and handle the transition smoothly.🧪

• Annie

  • Makes sense!

  • What will the Pectra upgrade include?🤓

  
• 

  Joy

  • For the consensus client (CL), the upgrade will include PeerDAS to increase the network's data availability.

  • For the execution client (EL), Pectra will include EOF, replace EIP3074 with EIP7702, and patch EIP2935.🛠️

• Annie

  • Sounds like a comprehensive upgrade!

  • So, overall, is this news good or bad for the market?📈

  
• 

  Joy

  • It's definitely good news!

  • The increased TVL and the approval of Ethereum ETFs are bullish signals.

  • Plus, the upcoming Pectra upgrade shows that Ethereum is continually improving.🚀

  • To sum up, this article is considered a 😍Bullish for investors!!