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2023 Ethereum Ecosystem Review: Liquid Staking and L2 Lead Development
Review and Outlook of Ethereum Development in 2023
In 2023, the development of Ethereum mainly revolves around two main lines: liquid staking and Layer 2 (L2).
In April, Ethereum completed the Shanghai upgrade, opening up staking withdrawals and entering the "interest rate control" era. Contrary to market expectations, the upgrade did not lead to massive selling pressure; instead, it attracted more deposits, making liquid staking the hottest DeFi track.
The L2 sector is developing rapidly. The Arbitrum airdrop continues the "wealth creation myth" while raising the airdrop expectations for other L2 projects. With the success of Base and the upcoming Cancun upgrade, concepts such as modularity, parallel EVM, data availability (DA), and decentralized sequencers are becoming increasingly popular. The rapid development of L2 has driven up the prices of related tokens, making it one of the most notable sectors in 2024.
The following are the main data performances of liquid staking and L2 in 2023:
Looking ahead to 2024, more L2 projects may issue tokens. Balancing fee income and DA costs, as well as providing value support for tokens, will be important issues that need to be addressed in the development of L2.