# Ethereum Newsletter || June 2023 : L2 Excitement on the Rise By: Freddy Zwanzger Expand on your L2 networks knowledge; Updates on the ETH validators; Register for a collaborative webinar and more! ### June 2023: L2 Networks Expand Whether or not you believe [bridges ≠ rollups](https://use.blockdaemon.com/e/974293/w-z8ltqui2d6KY8Fc3t-cnSE9rDL-o/2cb3y/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k), or how native L2 tokens can be, one thing is undeniable; L2 excitement continues to grow. Let’s dive in to what’s been happening in the Ethereum ecosystem:Optimism successfully completed its “[Bedrock upgrade](https://use.blockdaemon.com/e/974293/docs-developers-bedrock-/2cb42/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k)”, which set the stage for their Superchain vision of shared L2+L3 networks and reduced transaction fees ~50%. Plus, Circle’s stablecoin [USDC now has a “native” version on Arbitrum L2](https://use.blockdaemon.com/e/974293/n-of-usdc-natively-on-arbitrum/2cb45/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k). Want to hear more about how Blockdaemon can help you with your Blockchain journey? [Contact us today to chat more about our blockchain solutions](/content/blog/ethereum-newsletter-june-2023#CTA-Section/index.html), or read on to get a closer look at what’s new. ### Over 700,000 Ethereum Validators Soon The Shapella upgrade enabled the possibility to exit a staking position on Ethereum. This enabled institutions to stake their $ETH positions in line with their investment covenants.In the two months after the Shapella fork, the network [added ~42k active validators](https://use.blockdaemon.com/e/974293/hildobby-eth2-staking/2cb4g/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k) (+7.3%), with almost 100k still in line in a [45+ days activation queue](https://use.blockdaemon.com/e/974293/shapella/2cb4k/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k). This lets the percentage of Eth staked in terms of total supply go up from 15% to ~19% with no end in sight. ### What AA & MPC Means for Wallets and MEV What excites me about Account Abstraction (EIP-4337) is obviously it's potential for our [Blockdaemon wallet](https://use.blockdaemon.com/e/974293/wallet/2cb4n/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k). Messari’s [overview article](https://use.blockdaemon.com/e/974293/llets-landscape-and-strategies/2cb4r/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k) about the wallet market and different wallet types explains well the differences and commonalities with MPC technology. But AA is also [interwoven with the MEV](https://use.blockdaemon.com/e/974293/-dmarz-4337-mev-supply-chain/2cb4v/138355525?h=gbAPOyuUuD2oLnlng3PlPIAvv8oLn3yeinnPn1b2X6k) supply chain.Next month, I’ll be going into how our Blockdaemon MPC wallet works in a similar way as KSM + HSM + multi-sig, but better… ### Live MMI Webinar on Wednesday, 6/21 Easy institutional Ethereum staking with Blockdaemon is also available [via MetaMask Institutional (MMI)](/content/blog/learn-about-one-click-institutional-staking-simple-fast-and-flexible/index.html). Wednesday, June 21st, I will participate in a live webinar for “A Post-Shanghai/Capella Look at Institutional Staking” with MetaMask Institutional, Consensys and others. We’ll discuss the following topics: - The change in institutional staking interest post-withdrawals - Non-liquid vs liquid staking - Diversification within the institutional staking ecosystem - …and more! [Register for free today!](https://pages.consensys.net/a-post-shanghai-capella-look-at-institutional-staking-webinar-june-2023) ### **Blockdaemon Resources** - Blog: [All things staking Eth with Blockdaemon](/content/blog/discover-shapella-revolutionize-your-ethereum-staking-experience-with-blockdaemon/index.html) - Staking API Docs: [Integration](https://docs.blockdaemon.com/reference/ethereum-api-overview) & [Reporting](https://docs.blockdaemon.com/reference/ethereum-staking-reporting-api-1) - [Zodia Custody & Blockdaemon](/content/blog/zodia-custody-blockdaemon-the-ultimate-institutional-ethereum-staking-solution/index.html): Institutional Staking in Europe **Freddy Zwanzger** Ethereum Ecosystem Lead _"The future is on Ethereum—the most vibrant, mature, and diverse decentralized ecosystem."_ [freddy@blockdaemon.com](mailto:freddy@blockdaemon.com)