According to Odaily, Velocore has released an update on a recent security incident that occurred on platform X. The company stated that due to the ongoing security investigation, they are unable to share all information on social media. However, based on on-chain/off-chain logs and interactions with multiple protocols, they are tracking the incident with security partners and continuing negotiations through on-chain messages. Velocore also mentioned that they have more sources of information and will release more announcements as the investigation progresses. They plan to upload snapshots of the state before the attack to the GitHub repository. In Linea, there will be two snapshot blocks, as different trading pairs were involved in two separate transactions. In addition, although not directly related to LP, snapshots are also being taken of voters and holders who suffered losses due to the sell-off. These snapshots will serve as a benchmark for future liquidation or restarts. Previously, Velocore had released an analysis report on the vulnerability incident. On June 2, Velocore suffered a security vulnerability incident, resulting in a loss of approximately $6.8 million worth of ETH. The root cause of this vulnerability was a flaw in the Balancer-style CPMM pool contract.

According to Foresight News, the Ethereum Foundation has reportedly sold 100 ETH through CowSwap. The transaction, which took place a few minutes ago, is valued at $370,000, with the selling price set at $3,773 per ETH. The 370,000 DAI, which is the equivalent of the transaction, has been transferred to a multisig address starting with 0xbC9. The purpose of this transfer remains unknown.

According to Odaily, the official resources for ERC-6900 have been released. The resources were jointly written by the Ethereum Foundation, Alchemy, Circle, and Quantstamp, providing a comprehensive guide for ERC-6900. Reportedly, ERC-6900 is a pioneering proposal aimed at standardizing the interfaces of composable smart accounts. The core idea behind ERC-6900 is to promote permissionless innovation by making it easier for developers to build secure, interoperable, and composable modular smart accounts and plugins. The website provides resources on the motivation and design of ERC-6900, community participation, compatible smart account implementations, and plugin development. It also offers benefits for ERC-6900 ecosystem developers and provides a roadmap for future focus points. In related news from two months ago, Alchemy announced the launch of 'Modular Account' for Ethereum L2 developers, allowing non-technical users to access the Web3 ecosystem more broadly. The Modular Account is a new contract account implementation, specifically designed for compatibility with ERC-4337 and ERC-6900. It can provide enterprise-level security, low cost, and powerful account scalability for developers based on Ethereum L2.

According to Odaily, a debate was recently held by Bankless featuring renowned Ethereum developer Justin Ðrake and Solana co-founder Anatoly Yakovenko. The discussion revolved around the future of trading and the challenges faced by Ethereum. Uniswap founder Hayden Adams, who was present at the debate, agreed with Ðrake's perspective that the demand for trading in the future will far exceed what we can imagine today. He also concurred with Yakovenko's viewpoint that Ethereum's biggest challenge lies in the long-term uncertainty of DA's value and the ambiguity surrounding Ethereum's 'ultrasound money' vision. The term 'ultrasound money' is a meme concept within the Ethereum ecosystem, emphasizing the deflationary nature of ETH. This concept suggests that the value of ETH will increase over time due to its limited supply, a characteristic that is expected to drive demand and price growth in the future.

According to Foresight News, Twitter user Yujin has reported that Sun Yuchen spent 18,000 ETH (approximately $67.86 million) seven hours ago to purchase three LRT PTs due on June 27. This investment is expected to yield a fixed return of about 17% to 21% in cryptocurrency. Sun Yuchen used the 0x7a9 address for the transaction. The breakdown of the purchase is as follows: 10,000 ETH was used to buy 10,111.937 PT-weETH, which can be exchanged for weETH on a 1:1 ratio upon maturity on June 27. Additionally, 5,000 ETH was used to purchase 5,082.9 PT-pufETH, which can be exchanged for pufETH on a 1:1 ratio upon maturity. Lastly, 3,000 ETH was used to buy 3,025.9 PT-rsETH, which can be exchanged for rsETH on a 1:1 ratio upon maturity. Upon maturity in 22 days, Sun Yuchen can expect to receive approximately 220.7 ETH, which is equivalent to about $830,000.

According to CryptoPotato, Ethereum's price has seen a significant increase following its ETF approval, but it has yet to surpass its recent high. On the daily timeframe, the price broke above the large descending channel in May. However, it has been consolidating between the $3,600 and $4,000 levels since then, failing to continue its upward trajectory. Despite this, the Relative Strength Index (RSI) still shows values above 50%, indicating that the momentum is seemingly in favor of a further continuation past the $4,000 resistance level and toward a new record high. On the 4-hour timeframe, the price action has been inconsistent over the past few weeks. The market has tested the $4,000 area a couple of times already but has failed to break above and is currently hovering around the $3,800 mark. However, the 4-hour RSI has recently broken above the 50% level, suggesting that the momentum is shifting bullish. Therefore, a breakout above the $4,000 level seems likely in the short term. While Ethereum’s price has been consolidating below the $4,000 resistance level, significant events are seemingly unfolding in the background. The ETH exchange reserve, which measures the total amount of ETH held in exchange wallets, has recently plummeted below its 30-day moving average. This aggressive drop points to a potential accumulation happening during the current consolidation as the market gets ready to rally higher. Overall, this significant decline in exchange reserve can be very bullish for ETH, as it reduces the supply side of the equation.

On Jun 03, 2024, 14:32 PM(UTC). According to Binance Market Data, Ethereum has dropped below 3,800 USDT and is now trading at 3,797.550049 USDT, with 0.17% decrease in 24 hours.

According to Odaily, Bernstein analysts have noted a decrease in the credibility of the changing political narrative behind the unexpected approval of the Ethereum ETF by the US SEC, following President Joe Biden's rejection of the SAB 121 repeal. They added that Biden's refusal to repeal SAB 121 indicates a more pragmatic decision by the US SEC to avoid legal disputes.

According to Odaily, investment firm Roundhill has recently submitted an application to the U.S. Securities and Exchange Commission (SEC) for an Ethereum Covered Call Strategy ETF, coded as YETH. The effective date of this application is August 14, 2024. Bloomberg ETF analyst Eric Balchunas stated that this is a new application related to spot Ethereum. The application by Roundhill indicates a growing interest in Ethereum and its potential as an investment. The Ethereum Covered Call Strategy ETF, if approved, could provide investors with a new way to gain exposure to the cryptocurrency market. The submission of this application to the SEC is a significant step for Roundhill and for the broader cryptocurrency market. It demonstrates the increasing acceptance of digital currencies by traditional financial institutions. However, the SEC's decision on the application is yet to be made. The approval of the Ethereum Covered Call Strategy ETF could potentially pave the way for other similar products in the future.

According to Odaily, the Ethereum Community Conference (EthCC[7]) is set to take place from July 8 to 11, 2024, in Brussels, Belgium. The conference is expected to bring together over 300 speakers from around the world. Key topics on the agenda include account abstraction, interoperability, RWA, and the rise of L3, as well as re-pledging. The conference aims to provide a platform for Ethereum enthusiasts and experts to discuss and share insights on these critical issues. The event is seen as an opportunity to foster collaboration and innovation within the Ethereum community.

According to PANews, Ethereum Layer2 project Taiko has reported an ongoing issue related to backend and database encoding on platform X. This problem is currently being addressed by the team. As a result of this issue, users are unable to view their newly established bridging transactions on the user interface (UI). Taiko is actively working towards resolving this issue.

According to Odaily, Tranchess has announced that the ongoing growth in demand for Ethereum is expected to continue. The company predicts that liquidity pledge products and related products such as qETH and STONE, along with staYSTONE and turPSTONE, will continue to attract attention. The introduction of an Ethereum (spot) ETF is expected to increase institutional investors' interest in Ethereum and pledged assets. This, in turn, is anticipated to drive up the value of Ethereum and the demand for the network, leading to a subsequent rise in pledge yield rates. Tranchess's statement reflects the growing interest in Ethereum and related products in the cryptocurrency market. The company's prediction of continued demand growth for Ethereum and related products indicates a positive outlook for the cryptocurrency's future.

According to Foresight News, recent data from Dune indicates that the Ethereum Beacon Chain currently holds approximately 32.75 million ETH. The number of validators stands at 1.023 million. The staked ETH represents 27.33% of the total ETH supply. Notably, the liquidity staking protocol Lido accounts for a staking share of 28.96%. This data provides insight into the current state of Ethereum's staking ecosystem, highlighting the significant role of protocols like Lido.

According to PANews, Arbitrum has for the first time surpassed Ethereum in terms of monthly active users. The latest data reveals that Arbitrum's monthly active users have exceeded 8 million, while Ethereum's monthly active users are approximately over 7 million. This marks a significant milestone for Arbitrum as it continues to grow in popularity within the crypto community.

According to PANews, Matter Labs CEO Alex Gluchowski has announced that Ethereum's Layer2 blockchain Linea has decided to halt block production following a hacker attack on Velocore. This incident highlights the need for Layer2 companies to prioritize decentralization as early as possible. Gluchowski stated, 'Decentralized sorters are not an option. Every entity committed to the L2 stack must strive to implement this first.' Linea's product manager, Declan Fox, agreed with this sentiment, emphasizing that decentralization is necessary. He stressed that the network is 'solidly' moving towards decentralization, and the required time window is much shorter than many competitors. Fox wrote, 'Considering that many rollup frameworks that appeared two years earlier than us have not progressed further than us, I am quite satisfied with our progress.' Previously, Linea explained in an X post that on June 2, after a hacker exploited the Velocore based on Linea, more than $2.6 million in ETH was transferred out of Linea. Linea subsequently resumed block production, but the team decided to stop the zkEVM blockchain.

On Jun 03, 2024, 01:34 AM (UTC). According to Binance Market Data, Ethereum (ETH) has crossed the 3,800 USDT benchmark and is now trading at 3,801.679932 USDT, with a narrowed 0.94% decrease in 24 hours.

According to Odaily, Jan van Eck, the CEO of VanEck, has noted a significant shift in sentiment in the cryptocurrency market. This change is linked to the U.S. Securities and Exchange Commission's (SEC) approval of rule changes allowing Ethereum spot ETFs. 'This is indeed one of the most surprising things I've seen in my career in securities regulation. The U.S. Securities and Exchange Commission could indeed lose jurisdiction over digital assets. Therefore, our first reaction was to get approval for the Ethereum (spot) ETF, but I think there are bigger reasons,' said Eck. Eck also mentioned the '21st Century Financial Innovation and Technology Act' passed by the House of Representatives on May 8th as another significant step towards clearer cryptocurrency regulation. However, he expressed doubts about whether the bill could enter the Senate before the general election.

According to Odaily, data from CryptoQuant reveals a significant decrease in Ethereum reserves held by Centralized Exchanges (CEX) since the approval of the Ethereum spot Exchange-Traded Fund (ETF) by the Securities and Exchange Commission (SEC). The approval, which took place on May 23, led to a reduction of approximately 797,000 Ethereum coins, equivalent to about $30.2 billion, by June 2. In addition, data from Glassnode indicates that the percentage of Ethereum's circulating supply held by CEX has reached its lowest level in many years, standing at just 10.6%. This suggests a shift in the dynamics of Ethereum holdings, with a possible increase in decentralized holdings following the SEC's approval of the Ethereum spot ETF. The data underscores the impact of regulatory decisions on the distribution and movement of cryptocurrencies.

On Jun 02, 2024, 11:50 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,800 USDT benchmark and is now trading at 3,802.800049 USDT, with 0.28% increase in 24 hours.

According to U.Today, Chainlink (LINK), a leading Ethereum-based oracle protocol, is demonstrating resilience against market bears during a period of negative reversal in the broader digital currency ecosystem. As per recent data from CoinMarketCap, LINK has seen a 3.18% increase in the last 23 hours, reaching $18.54. This is in contrast to a 0.62% decrease in the combined market cap. Chainlink's daily growth rate is noteworthy, especially when compared to Bitcoin (BTC) and other top altcoins. A 14.74% increase in volume indicates potential for further surges. Recent trading activity shows a total of $445,393,986 in LINK being exchanged, making it the 21st most traded token in the market. The positive sentiment surrounding Chainlink in the retail market suggests a strong buying impulse. If this continues, it could help Chainlink extend its daily bullish trend, despite the bearish turn of Bitcoin. The LINK/USD 4H chart on TradingView shows the token trading above its 50, 100, and 200 moving averages, indicating a bullish trend. Over the past month, Chainlink has seen a 36.46% growth. Several factors have contributed to this significant increase. Beyond regular whale shifts, the primary driver is the value Chainlink adds and the unique position it holds in the industry. As a leading Oracle service provider, Chainlink enhances the operational efficiency of many decentralized applications (dApps). To further strengthen its industry position, Chainlink has formed several partnerships with top protocols to enhance their interoperability. Chainlink has also benefited from an upgrade to its staking engine, which now provides a more robust platform for betting on LINK and broadens engagement.