If ETH's ETF is successfully passed, the projects in the ETH ecosystem will also benefit, and the increase may exceed ETH. Therefore, we should focus on it.

In the ETH ecosystem, there are several largest sectors and projects

1 layer2

Main projects: arb, op, strk, metis, manta

As ETH's goal to become a global computer, Layer2 is accused of taking on the prosperity of the ETH ecosystem with high TPS and low GAS. Its importance and value are self-evident. At the same time, layer2 is the sector with the highest market value in the ETH ecosystem.

However, most projects are also typical of the institutional coins with low circulation and high FDV that have been criticized recently. As three of the four kings, arb, op, and strk have FDVs exceeding 10 billion US dollars.

arb has the highest TVL and the largest number of Dapps among all projects. However, arb's pull is relatively weak, and there have been a lot of unlocking recently.

The advantage of op lies in the super chain ecosystem formed by the op stack, which has gathered a large number of excellent projects and capital. Historically, op's pull is more aggressive than arb, which may be the preference of funds.

strk is the layer2 of zk core, and its ecological suggestions and users are not as good as the first two. However, its circulating market value is lower than arb and OP, and it has been falling since its listing, and has not rebounded.

metis was a hot topic for some time before. It started as a decentralized sorter, and it also had a very large callback after listing on Binance.

manta is a representative of layer2 created in a modular way. The team is very hard-working, and the ecological project is developing very rapidly. Its circulating market value is only 400 million US dollars, which is the lowest among them.

2 LSD

Main projects: LDO, SSV, PRL

The LSD protocol is mainly a node-related staking service that appeared after ETH Shanghai upgraded from POW to POS. LDO is the largest service provider, with the highest TVL in the entire network and a circulating market value of 2 billion.

SSV is the infrastructure setting of distributed nodes, and its recent performance is not bad.

3 Defi

Main projects: Pendle, uni, aave, comp, crv, mkr

Defi should be the most familiar to everyone. As the largest innovation sector in the last bull market, the application of Defi has been popularized in all aspects of daily life on the chain. The core players include uni, aave, comp, crv, mkr, etc., representing dex, lending, stablecoin trading, stablecoin issuance, etc.