Optimism, Scaling Solution for Ethereum, Sets June Date for Biggest Ever Upgrade, ‘Bedrock'

The Bedrock hard fork, proposed earlier this year and approved by the Optimism community in April, is supposed to bring a “new level of modularity, simplicity and Ethereum equivalence.”

Timeline of Ethereum, Optimism-ethereum

On-chain data shows the Ethereum taker buy/sell ratio has formed a crossover recently that has historically signaled tops in the asset's price. Ethereum Taker Buy/Sell Ratio 280-Day and 476-Day MAs Have Crossed Recently As pointed out by an analyst in a CryptoQuant post, the last time this crossover formed was back in May 2021, when ETH observed the bull rally top formation.

Ethereum managed to surpass the $1,800 price level initially, but it has been experiencing a period of consolidation recently. In the past 24 hours, there has not been much progress in the price movement.

In a significant development for the blockchain industry, IoTeX's community has overwhelmingly voted in favor of Improvement Protocol 21 (IIP-21), paving the way for bridging IOTX, the native coin of the IoTeX network, to Ethereum. The proposal received overwhelming support from the IoTeX community, with a final tally of 306 million IOTX (73.77%) voting in favor of the bridge, while 109 million IOTX (26.23%) opposed the proposal.

Ethereum Price Analysis: On May 11th, the Ethereum price breached the monthly support of $1827 indicating a possibility for momentum selling to trigger a longer correction. However, it's been five days since the breakdown, and the coin price moving sideways indicates a weakness in sellers' commitment.

An address associated with the 2021 exploit of automated market maker Uranium Finance recently laundered over $1.18 million of stolen assets through crypto mixer Tornado Cash. The assets were transferred in ten transactions in 30 minutes today.

As the world grapples with the relentless squeeze on traditional banking yields, the digital universe presents an enticing alternative. Ethereum, a leading player in the cryptosphere, is set to witness a surge in yields, attracting attention from investors worldwide.

After ChatGPT's success, OpenAI CEO Sam Altman's other ambitious project Worldcoin is in the news these days. Sam Altman is close to securing $100 million in funding and plans to launch the open-source protocol in the first half of 2023.

Optimism, a layer 2 scaling solution, is gearing up for its highly anticipated Bedrock upgrade on June 6, promising a range of improvements. The upgrade is expected to bring reduced transaction fees, enhanced network security, and better compatibility with Ethereum.

Key Points: Lido, the Ethereum-based staking provider, recently launched its second version, known as V2. This has caused a rise in the value of LDO, its native governance token, which increased by 10% to $2.15 in the last 24 hours.

As the world of cryptocurrencies evolves, Ethereum (ETH) investors are beginning to take notice of the power of yields and their potential impact on the crypto space. Yields, in essence, are the payments investors receive for holding cryptocurrencies, and they can come in many shapes and forms.