After auditing Lighter’s ZK circuits, L2BEAT made the entire source code public. Users can now independently rebuild circuits and generate ZK proofs, enabling permissionless asset withdrawal from Layer2 without project team involvement. This eliminates blind trust and boosts decentralization.
LIT token surged 20% on May 20, driven by Vitalik Buterin's mention, Tealstreet integration, SpaceX pre-IPO futures, and a ZK verification milestone. Daily volume reached $75.8 million, market cap hit $297 million.
ZKsync said ZKsync Lite will stop producing blocks on May 4 and freeze its final state. About $33.9 million remains bridged, and the team says all funds will stay claimable after shutdown.
On June 8, total crypto market cap rose 2.7% to $2.25T, BTC gained 2.57%, ETH jumped 5.88%, yet the Fear & Greed Index plunged to 8 (Extreme Fear). BEAT soared 65%, SIREN rallied 45%, DeFi climbed 3.9%. U.S. Treasury's trillion-dollar reserve plan, ETF filings, and regulatory news also surfaced.
The Ethereum Foundation has unstaked 21,270 ETH from Lido after earlier withdrawals and OTC sales. Arkham said the move may reflect operating funding needs or caution over third-party protocol risk.
Scroll is shifting governance from its community-led Security Council to the core team after concluding the existing structure is too costly. The move comes after a fee spike controversy and Ether.fi’s migration, which pushed Scroll’s TVL down to $23 million.
Base co-founder Jesse Pollak said on July 21 that Robinhood Chain was moving in the right direction by bringing tokenized stocks to an EVM environment, while acknowledging that Base had fallen behind in that segment. He said Base is now working with Coinbase on its own product and plans to offer tokenized equities backed 1:1 by shares rather than using a derivatives structure. The remarks marked Pollak’s second public admission of a strategic miss in recent weeks. Earlier, he said Base’s year-long push into social and creator tokens had failed to produce sustainable adoption, with projects tied to Farcaster, Zora and content tokens losing momentum as prices fell and early builders cooled off. Since then, leadership of Base App has shifted back to Coinbase, with Cobie taking over while Pollak focuses on core chain infrastructure. The article argues that Robinhood Chain’s launch has intensified scrutiny of Base’s unresolved issues, especially around decentralization, reliability and community trust. Even so, Base still holds the highest TVL among L2 networks at nearly $12 billion, keeping it in a strong position as competition tightens.
Robinhood Chain has posted nearly $4 billion in cumulative DEX volume less than two weeks after mainnet launch, quickly entering the ranks of the busiest public chains. Data cited from DeFiLlama, Token Terminal, L2BEAT and Dune shows the network has climbed to second place in 24-hour DEX volume behind Solana, while daily transactions, active addresses and Ethereum data availability usage have all surged past key peers such as Base in parts of the period. The activity boom has been driven heavily by meme-coin trading. On July 10 alone, meme tokens accounted for about 54.3% of on-chain trading volume, while daily token creation briefly topped 24,000. That growth has come with concentration and security concerns: meme market cap on the chain has exceeded $240 million, but Cashcat alone represents about 59.6% of that total, and Relay Protocol has warned about a wave of honeypot scam tokens targeting users. The report says the main beneficiaries so far include Uniswap, which handled 99.8% of the chain’s DEX volume as of July 12, Morpho and Ethena, which hold large shares of total value locked, launchpad NOXA.fun, infrastructure provider Arbitrum, and perpetuals platform Arcus. Even with the breakout debut, the report says Robinhood Chain’s next test is whether meme-driven traffic can convert into durable users, capital and a more resilient ecosystem.
