Recently, the US SEC officially approved the 19b-4 documents of 8 Ethereum spot ETFs. Although ETF issuers still need to wait for several weeks before the S-1 registration statement takes effect before trading, the approval of this ETF is still a shot in the arm for Ethereum and the crypto market.
Looking back at the current bull market, the price trend of Ethereum 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. Standard Chartered Bank predicts that ETH will rise to $8,000 by the end of this year. If Ethereum can really replicate the trend of Bitcoin spot ETF, then the sector projects with the highest correlation with it are likely to be the beneficiaries. Today, Golden Finance will take stock of several potential sector projects that are strongly related to the Ethereum narrative (data as of writing).
1、L2
Decision:
Arbitrum is an Optimistic Rollup built by Offchain Labs. It is currently the leader in the L2 track with a TVL of approximately $19 billion. The ARB price is currently $1.253, having previously risen to around $2.2, with a total market value of $3.314 billion.
Recently, the Arbitrum community is working on a proposal for a “200 Million ARB Game Catalyst Plan”.
Optimism：
Optimism is the second largest L2 blockchain with a TVL of approximately $7.59 billion. The ARB price is currently $2.57, having previously risen to around $4.87 in March this year, with a total market value of $2.716 billion.
Recently, Optimism’s fourth round of retroactive public goods fundraising applications has been opened, and a superchain application deployment rebate plan has been launched.
Put:
Metis is the first decentralized sorter of layer2, and it is rumored that the founder is a good friend of V God's mother. The price of METIS is now $80.69, and the previous high was $134.64, with 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：
Created by Israeli software company StarkWare, StarkNet is a zk-rollup L2 that uses zk proofs 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 innovation in the Starknet ecosystem, with an initial budget of 5 million STRK.
2. Re-pledge
ether.fi：
Ether.Fi is an infrastructure-based staking protocol based on Ethereum. Ether.Fi allows participants to retain control of their keys when staking on behalf of others. Deposit to Ether.Fi and automatically re-stake with Eigenlayer. The price of ether.fi is now $5.3, with a previous high of $8.66, and a total market value 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. It is also an important interface of the EigenLayer ecosystem, used to protect the Actively Validated Services (AVS) and provide higher returns than ETH staking. Renzo provides users with a re-staking channel by automating liquidity re-staking strategies and managing risk and return strategies with the synergy of smart contracts and operator nodes.
The REZ price is now $0.1616, with a previous high of $0.2 and a total market value of $186 million.
Recently, Renzo opened 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 the Rollup stack (such as OP Stack, Arbitrum Orbit, ZK Stack, etc.); on the other hand, through the EigenLayer's re-staking mechanism, it improves economic security and 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 capitalization of $414 million.
AgentLayer plans to launch the third phase of its project on the AltLayer testnet in June.
3、DeFi
Pendle：
Pendle is an interest rate derivatives protocol built on multiple chains. Users can purchase assets at a discount, participate in various yield strategies, or earn income by providing liquidity to the fund pool. At the same time, users can "strip coupons" on interest-bearing token assets, splitting them into independently tradable interest payment parts and principal payment parts, and minting corresponding tokens.
The current price of PENDLE is $7.16, with a previous high of $7.538, and a total market value of $1.074 billion.
Recently, Pendle TVL exceeded US$6 billion, setting a record high.
Read DAO：
Lido is a non-custodial Ethereum 2.0 liquidity staking protocol. Users can participate in Ethereum 2.0 staking with any ETH on Lido without building a node. The staked token stETH can be freely circulated through DeFi's AMM mechanism to participate in other services in the DeFi market.
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 to "create a Lido Contributor Alliance Working Group." In addition, data shows that the Ethereum staking rate has reached 27.15% and Lido's market share has reached 28.54%.
Uniswap：
In the last bull market, UNI rose to $45, and the current high was $17.05. The current price of UNI is $11.01, with a market value of approximately $6.615 billion.
Recently, Uniswap Labs received a Wells Notice from the U.S. SEC.
MakerDAO：
MakerDAO is an over-collateralized stablecoin protocol. The overall logic is that users pledge assets supported by the protocol to obtain DAI, a decentralized stablecoin pegged to the US dollar. The MKR price is currently $2,814, with a previous 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
TO US:
Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on Ethereum. The job of Ethereum Name Service is to map human-readable names (such as "alice.eth") to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata.
The current price of ENS is $26.07, and its previous high was $30.50, with a total market value of approximately $835 million.
Recently, Vitalik Buterin stated that ENS is their most successful non-financial application.
BABY：
PEPE coin is an Ethereum-based deflationary meme coin inspired by the Pepe the Frog internet meme.
On May 27, PEPE broke through $0.000017, setting a new all-time high. The current market value of PEPE is $7.091 billion.
PEOPLE：
ConstitutionDAO was a crowdfunding campaign to buy the first version of the United States Constitution. PEOPLE is a token representing a share of ConstitutionDAO. Since the bid for the document failed, PEOPLE now also represents a historic DAO campaign.
The current price of PEOPLE is $0.083, which has recently hit a new high since its listing, with a total market value of approximately $415 million.
