First Mover Americas: Traders Place Big Bets on Ether for Second Half of 2023

The latest price moves in bitcoin (BTC) and crypto markets in context for July 3, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

Timeline of Ethereum

On 2 July 203, Anatoly Yakovenko, the co-founder of Solana Labs, delved into the intriguing possibility of Ethereum functioning as a Layer 2 (L2) solution for Solana. Layer 2 solutions are bridge protocols that provide one-way security, and Yakovenko believes that Ethereum could potentially offer this for Solana.

In the previous week, there was a significant recovery in the price of Ethereum (ETH), which temporarily interrupted the preceding downward trend that had been ongoing since April.

A newly formed decentralized autonomous organization (DAO) comprised of Azuki enthusiasts has put forth a proposal to reclaim 20,000 Ether from Zagabond, the founder of the renowned NFT brand Azuki.

An Ethereum (ETH) whale has been spotted withdrawing tens of millions of dollars worth of the leading altcoin from crypto exchange Binance over the last month. Blockchain tracking firm Lookonchain reports that an Ethereum whale has withdrawn 50,100 ETH worth over $91 million from Binance since June 8th. “This whale withdrew 8,500 ETH ($16.

Ethereum price is doubling down its bullish efforts after reclaiming support at $1,900 and extending the leg to $1,950. The second largest smart contracts token, powered by a proof-of-stake (PoS) consensus mechanism, is up 1.6% on the day and trading at $1,945 on Monday.

Based on recent data, over ten million ethereum is now secured within liquid staking derivatives platforms, with a valuation close to $20 billion at current exchange rates. Two leading liquid staking decentralized finance (defi) protocols, Lido Finance, and Rocket Pool, experienced 30-day growth rates ranging from 7.57% to 9.69%.

Vitalik Buterin, the enigmatic co-founder of Ethereum, recently divulged an intriguing aspect of his cryptocurrency management approach. While staking, a strategy utilized by many crypto investors to earn passive income, is popular in the Ethereum community, Buterin surprisingly revealed that he stakes only a minuscule portion of his Ethereum holdings.

Ethereum Name Service (ENS) Labs has announced plans to introduce Layer 2 (L2) interoperability for its ENS domains during a community call on June 28. The implementation aims to improve performance, scalability, and cost efficiency for users managing their ENS domains.

Dior, the renowned French luxury fashion house, has announced its foray into blockchain. The brand is introducing a new men's footwear line that incorporates a unique, encrypted online authentication system and corresponding “digital twin” Non-Fungible Tokens (NFTs).

Vitalik Buterin says that he's not ready to stake a large part of his Ethereum (ETH) holdings due to the current infrastructure built around the service. In a recent interview with the Bankless Podcast, the Ethereum founder says he's still concerned about staking a large part of his ETH trove due to security reasons.