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All About The zkLink L3 Summit: The Leading Technical Forum For Layer 3 Blockchain Solutions

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[PRESS RELEASE – Please Read Disclaimer]

The L3 Summit is a zkLink-initiated event series that educates, amplifies, and shares research about the current status of Layer 3 development from the world’s leading Layer 1 and Layer 2 blockchain protocols.

Layer 3s are a third layer built on top of Ethereum Layer 2 Rollups that deliver higher scalability, lower gas costs, and greater app-specific customizability. Layer 3s are poised to lead the future of building interoperable DApp infrastructures and Ethereum scaling solutions.

The L3 Summit brings together the world’s best protocols such as zkSync, Starknet, Scroll, Linea, Polygon, Manta, Mantle, Kakarot, Taiko, Celestia, Eigen Layer, and more, to push forward the boundaries of Layer 3 innovation and break through the blockchain trilemma.

zkLink and QED will be hosting its second L3 Summit at ETHDenver on March 2nd, 2024 at the Le Meridien Hotel in Downtown Denver.

For those interested in registering to attend the Summit, please see our Luma event page for more details. We look forward to kicking off another great event on one of the industry’s hottest topics: Layer 3s.

Introducing The L3 Summit: How zkLink Conceptualized The Idea

The L3 Summit has become the leading technical forum for exploring innovative Layer 3 blockchain solutions – where Layer 3 developers, founders, and Layer 1 and Layer 2 blockchain scaling enthusiasts get together to advance a young, quickly developing segment. But how did we get here? And what’s the story behind launching this event series?

Let’s quickly rewind the tape and fast forward to today.

Firstly, it’s well-known that the blockchain’s evolution from Layer 1 to Layer 2 marked a significant step forward in the industry, highlighted by motivations to solve the inherent issues plaguing the blockchain such as the tradeoff between scalability, security, and decentralization – otherwise known as the blockchain trilemma. Layer 2s however, predominantly focused their development atop the Ethereum network, striving to truly realize Ethereum’s mission to serve as the world’s decentralized compute platform.

Spectacularly, Layer 2s became so prominent during the 2020 and 2021 bull runs that they amassed significant market share and a motto of being “Layer 1 Killers.” However, as the years passed – Layer 2 advancement slowed, and even created second-order issues that were previously unforeseen, exacerbating the blockchain’s original problems.

For example, the two dominant approaches to Ethereum Layer 2 scaling – Optimistic Rollups and Zero-Knowledge Rollups – have come under scrutiny for displaying various weaknesses such as sacrificing security in the case of Optimistic Rollups – and an immature, small market niche for ZK Rollups due to their complexity and technical overload.

As a result, a new debate has emerged around reigniting the mission of scaling Ethereum and providing for a more interoperable multi-chain ecosystem. In particular, this debate has led to discussions about developing Layer 3 solutions, infrastructures, and middlewares that connect the various ecosystems and provide developers with multi-VM, EVM-compatible frameworks to ease their development timelines for launching DApps that work across networks and that have access to fragmented liquidity.

This story has become zkLink’s Muse and mission i.e., to solve liquidity fragmentation and to construct a Layer 3 solution where developers can launch scalable, fast, cheap, user-friendly, developer-friendly, secure, ZK-powered, general-purpose, and application-specific DApps.

Consequently, to push this narrative forward, and advance Layer 3 development and application, zkLink conceived and commenced the world’s first in-real-life event to debate the topic – the L3 Summit.

The first rendition of zkLink’s L3 Summit was held at Devconnect Istanbul in November 2023 – and now zkLink is preparing for an epic sequel to continue the momentum at ETHDenver 2024.

What Partner Projects & Speakers Will Be Present At The L3 Summit?

Our L3 Summit has attracted the attention of many of the industry’s heavyweights and prominent protocols. These include leading Layer 2s such as Arbitrum, Linea, Mantle, Polygon zkEVM, Metis, Scroll, Starknet, and zkSync – Innovative modular blockchain solutions such as Celestia, Eigen Layer, and Manta – Rising zkEVM solutions such as Kakarot and Taiko – And finally, Layer 2 Ordinals such as L2O Consortium, ZKP systems such as Polyhedra, oracle providers such as Pyth Network, and zk-Native blockchain protocols such as QED.

The projects above will feature renowned speakers at our L3 Summit in Denver to discuss the different approaches and purposes for building Layer 3 solutions, Layer 3 DeFi, general-purpose versus application-specific rollups, interoperability, zero-knowledge technology, zkEVM-compatibility, developing DApps on Layer 3s, and other interesting topics.

*We will soon be announcing the final speaker lineup, panel agendas, and keynote topics for our L3 Summit at ETHDenver*

Our first L3 Summit in Istanbul featured 17 speakers from over 15 projects, discussing topics around the future of Layer 3s, scaling Ethereum with Layer 2s, modular solutions for Layer 2 and Layer 3 Rollups, hyperchains, writing the EVM on a zkEVM, and the different tech stacks for deploying Layer 3 solutions.

In summary, without great speakers, one cannot hold a successful event, and thankfully, we’ve put together a crypto and blockchain “Dream Team” that will share valuable alpha on their respective panels and keynotes at Denver. Events like the L3 Summit serve as “leading indicators” for what’s next. So come and join the fun!

L3 Summit Sponsors: How We Make It Happen

Sponsors play a much-needed helping role in hosting a successful event that runs smoothly, is well-attended, and is properly organized and funded to give the many projects an ideal atmosphere to make a change. The two sponsors for our upcoming L3 Summit in Denver are Arrington Capital and QED, with QED serving as our title sponsor this year (shoutout to QED).

Arrington Capital is a thesis-driven firm investing in digital assets and Web3 since 2017. Arrington Capital has three sub-segments: Arrington XRP Capital, which is a multi-strategy hedge fund specializing in early-stage ventures and public markets – Arrington Algorand, which is an ecosystem fund investing and incubating projects in the Algorand ecosystem – and Arrington Moonbeam, which is an ecosystem fund investing and incubating projects in the Moonbeam ecosystem.

QED, our title sponsor for L3 Summit Denver, “is the world’s first zk-Native blockchain protocol built to scale trustless computation and privacy for the next generation of the internet.” QED protocol is starting its own initiative and movement called L2O, which stands for Layer 2 Ordinals, a set of standards for building trustless applications on Bitcoin.

QED is Bitcoin’s native execution layer, and unlike other Bitcoin Layer 2s that require a trusted multisig, on QED, assets can be bridged in a trustless way because they’re secured by ZKPs. Therefore, with its cutting-edge state model, QED is capable of supporting millions of concurrent users transacting in parallel and with low gas fees. For developers, QED’s BitIDE has custom opcodes, with which developers can use OP_MUL and more on the Bitcoin mainnet, thus allowing developers to easily deploy their dApps on Bitcoin.

The L2O Consortium

L2O Consortium is a comprehensive set of standards for trustless applications and Layer 2s to be built on Bitcoin for the first time. L2O’s mission is to bring BTC native security, internet scale, and interoperability to applications and Layer 2s on Bitcoin. L2O strives to unite the Bitcoin execution layer and is interested in collaborating with those who share their mission of bringing trustless compute to Bitcoin.

L2O will have a special panel at the zkLink L3 Summit discussing their solutions and analysis about the future of blockchain scaling technologies, approaches, and challenges. Despite having a focus on Bitcoin Layer 2s, L2O will bring valuable insights and perspectives towards the Ethereum and alternative ecosystem in scaling with zero-knowledge technology.

Grand Vision Of The L3 Summit Going Forward

Moving forward, we at zkLink plan to take the L3 Summit to more crypto and blockchain events worldwide, such as TOKEN2049 Dubai, ETHCC Bruxelles, and TOKEN2029 in Singapore. Layer 3s are still in its infancy, so we hope that through these events, the word and value proposition for Layer 3s will continue to gain more awareness in the public and attract more debate, thus leading to better products, solutions, and innovations that push the blockchain industry forward and initiate the next 10x wave of growth. Stay tuned!

Learn More About zkLink’s L3 Summit: Check Our Website & Twitter

To learn more about the upcoming L3 Summit: Denver edition, as well as our previously hosted L3 Summit: Istanbul Edition, please visit the L3 Summit website.

In addition, we have a separate distinguished Twitter account for the L3 Summit. So if you’re interested in getting daily updates and the latest news about our upcoming event, please follow and interact with our L3 Summit Twitter.

For those that have become irresistibly interested in what alpha we’re going to unleash at the L3 Summit, and want to attend the event in person, please go to our L3 Summit Luma page and register. You certainly won’t want to miss out!

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Critical XRP Metric Reaches New Record: What Does it Mean for Ripple’s Price?

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TL;DR

  • XRP whales, or those holding at least 10,000 tokens, have continued to accumulate in recent months, as the total number of such wallets now exceeds 300,000.
  • Although XRP’s price has remained relatively sluggish on a weekly scale, industry experts believe whale accumulation is “insanely bullish.”

As the graph below will show you, XRP whales went on a substantial buying spree after the US elections, which was somewhat expected given the anticipation for big regulatory changes in the country that could affect domestic crypto businesses, such as Ripple.

After a minor hiatus in December when the total number of such investors dropped, they returned in full force at the start of 2025 and haven’t looked back since, aside from some minor deviations.

Data from Glassnode shows that the number of addresses holding over 10,000 XRP has gone above 300,000, which is a record of its own. According to popular industry commentator Amonyx, this is “insanely bullish” as it serves as “absolute proof of surging investor confidence.”

Recall that whales bought over 900,000,000 XRP in April alone. In USD terms, this massive fortune was worth close to $2 billion.

With the SEC legal case seemingly behind Ripple, the company is now focused on expansion after the acquisition of Hidden Road and the failed attempt to take over Circle. The XRP Army, on the other hand, is anticipating the approval of a spot ETF after the recent good news on the futures ETF front.

However, the US securities regulator delayed making a decision on Franklin Templeton’s XRP ETF applications and the new deadline is set for mid-June. ETF experts believe the summer of 2025 will see the approval of numerous such financial vehicles tracking the performance of various cryptocurrencies, including XRP.

Maybe that’s what the “big money” is preparing for.

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4 Headlines That Terrify Solana Short Sellers in May

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These are positive signals indicating more growth in long-term price support for Solana tokens.

The growth in the stablecoin market cap on the Solana ecosystem in 2025 has been absolutely staggering. More details on that are below. But, these are the kind of healthy Web3 indicators that help evaluate network effects and user activity for financial risk assessment.

Solana prices have been trending along with the broad crypto market over the past 12 months. But they may be on a trajectory to outperform many other altcoins in Q2 2025.

Here are five reasons why:

1. Bullish Long Term SOL Cup and Handle Pattern

On Apr. 28, popular Crypto X chart technical analyst Ali Martinez (“Ali Charts”) posted an interesting observation to some 136K followers..

The Solana price chart does certainly form a bullish cup and handle pattern starting around Oct. 2022. The cup completes in Nov. 2024, and the handle forms during market panic after Trump took office.

This chart pattern is a classic technical analysis signal of a bullish reversal about to begin in exchange markets. The fact that the pattern spans some two-and-a-half years does not discredit its usefulness as a price signal for Solana in May.

This classically reliable pattern usually becomes more reliable the longer it takes to form.

Ali added that the Bollinger Bands squeezing the middle on the 4-hour chart for SOL tokens also smelled like something is cooking in Solana markets.

2. Solana Tokenized Stocks Announcement

Tokenized contracts stand to transform the world even more than Bitcoin’s settlement-based finance rocked the system. One of the most abundant use cases for that would be tokenized stocks.

BlackRock CEO Larry Fink said in his annual letter to shareholders in April that tokenizing stocks will revolutionize financial markets. In a powerful statement, Fink wrote:

“Every stock, every bond, every fund—every asset—can be tokenized. If they are, it will revolutionize investing. Markets wouldn’t need to close. Transactions that currently take days would clear in seconds. And billions of dollars currently immobilized by settlement delays could be reinvested immediately back into the economy, generating more growth.”

The Solana Policy Institute and three other organizations announced on Apr. 30 a proposal submitted to the SEC called “Project Open.” The proposal is for a product that allows Solana to issue tokens for stocks that users can trade on the blockchain.

3. Bloomberg SOL ETF Approval Odds Jump to 90%

Meanwhile, on Apr. 29, Eric Balchunas, senior ETF analyst for Bloomberg, posted the latest approval odds from Bloomberg Intelligence for active crypto ETF applications at the SEC.

Bloomberg’s forecast for a Solana ETF approval from the SEC in 2025 jumped to 90%. Although there are currently more Ripple ETF applications than Solana, Bloomberg’s odds for a SOL ETF were higher, with XRP at 85%.

Solana tops the odds among altcoins at 90%, but Avalanche and Cardano have a 75% chance of approval, according to Bloomberg’s current estimation. When Bitcoin’s ETFs went live in Q1 2024, its price went on a 12-month historic rally.

4. Solana Stablecoin Market Cap Is Spacewalking

In addition to the technical and derivatives market signals, and Solana ecosystem development with more use cases, data from DeFiLlama shows an utterly significant increase in such stablecoins from under $5 billion a year ago to above $13 billion in May.

Web3 users like stablecoins for making currency swaps convenient and sheltering their money from market volatility while having it ready to deploy to take advantage of opportunities.

Having that much liquidity suddenly available for trading in under 12 months is an item of fundamental analysis for the bullish column for Solana this quarter.

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Arthur Hayes Sees Bitcoin at $1M: Here’s How It Compares to Wall Street Forecasts

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Earlier in the week, ex-Bitmex CEO Arthur Hayes laid out his most audacious Bitcoin (BTC) forecast yet: a staggering $1 million price tag by 2028.

He didn’t back down when pressed days later in a follow-up interview with analyst Kyle Chassé, instead laying out a roadmap for how global financial chaos will make it inevitable.

The $1 Million Thesis

In a series of posts on X, Chassé unpacked Hayes’ thought process, revealing the Maelstrom CIO’s prediction envisions a radical scenario where BTC is no longer just a speculative asset, but the ultimate hedge against a global financial system possibly teetering on collapse.

According to Hayes, the world is splitting into economic blocs, with the U.S. and China locked in a slow-motion decoupling. If traditional systems falter, the crypto investor expects the ensuing Treasury buybacks, bond market panic, and what he calls “monetary detonation” will nudge institutions to flee to BTC.

“Bitcoin isn’t risk-on anymore,” Chassé echoed. “It’s system-off.”

In his post, the crypto influencer explained that Hayes’ estimations will possibly play out in two phases: a surge to $250,000 by late 2025 as liquidity floods markets, followed by a moonshot to seven figures triggered by “ballooning deficits, debasement, and unstoppable digital scarcity.”

Corporate Forecasts

While some may consider the BitMEX co-founder’s view too ambitious, it’s not entirely disconnected from where parts of the traditional financial world see Bitcoin heading. Several firms have recently upgraded their BTC price targets amid strong demand for spot Bitcoin ETFs, reduced post-halving supply, and favorable macro backdrops.

Fundstrat’s Tom Lee and H.C. Wainwright both land near Hayes’ interim target, forecasting $225,000 to $250,000 for 2025. BlackRock and Social Capital CEO Chamath Palihapitiya come closest to Hayes’s million-dollar prediction at $700,000 and $500,000, respectively.

Meanwhile, Standard-Chartered and Matrixport have lifted their year-end targets to $200,000, while VanEck sees the possibility of a cycle top that reaches as high as $250,000.

While the projections fall far short of the $1 million mark, they are finally recognizing BTC’s potential to move well beyond its previous all-time highs.

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