# ScaleWatching the Week *(July 12th-19th)* By [ScaleWatching](https://paragraph.com/@scalewatching) ยท 2024-07-19 l2s, scaling ethereum --- Hello dear ScaleWatchers, Let's round up and comment some of the most important news that happened this week in the L2 scene: **_\*Work in progress, experimental Edition_\*** * * * ### Macro Section **_Trump assasination attempt, Vitalik's political considerations_** The week began on the intense drama surrounding [the Trump assasination attempt](https://edition.cnn.com/2024/07/14/politics/timeline-trump-rally-shooting-dg/index.html) that took place on Saturday during a rally in Pennsylvania. As we all know, Trump came out of the bad situation with a wound on his ear and a [historic defiant photo](https://apnews.com/article/trump-photo-flag-iconic-bullet-f668b7dcc7b365a319a5daaac582775d) that will probably help him winning the November's elections. There's been a welcoming bipartisan condemnation of the sad episode which we hope it can be the beginning of a de-escalation of tensions in the American political sphere. In my own view, the best scenario for our beloved bags is that Democrats resign to the possibility of seeing Trump winning the elections so that, on one hand, we'll reduce the chances of seeing scenes of dangerous turmoil and, on the other hand, we'll hopefully see the Republicans rolling out pro-crypto regulations as they recently committed to in their [official electoral program](https://www.presidency.ucsb.edu/documents/2024-republican-party-platform) issued last week. On Wednesday, while the political tension in Crypto seemed to diminish a little bit, Vitalik accidentally threw more fuel on the fire by publishing an article on his blog titled **"**[**Against choosing your political allegiances based on who is Pro-Crypto**](https://vitalik.eth.limo/general/2024/07/17/procrypto.html)**"** which was both [criticised and backed a lot on X.](https://x.com/0xNurstar/status/1813789855039525333) * * * ### Market Section **_Green token pastures,Tech Stock keep going up, ETH ETF likely to start trading next week_** Most markets reacted pretty well to the Trump's "narrow escape" and we saw green double-digits in Eth and in most L2s-related coins (following screenshot taken at around 12UTC on Jul 17th): ![](https://storage.googleapis.com/papyrus_images/ba2b5746662bd54bc90451634c5ba380.png) During the week, we also saw tech stocks reaching ATH and approaching overheated territories in Daily & Weekly timeframes that led to a slight retracement in the final part of the week. ![](https://storage.googleapis.com/papyrus_images/b3736fd4ad1800c8b91bbc211440df1e.png) Seeing stocks reaching these levels before seeing the Fed cutting rates and before the US elections is something people weren't expecting and it adds more uncertainty to the next 4-6 months. The much awaited [ETH ETF is likely to start trading next week](https://www.theblock.co/post/305438/spot-ethereum-etfs-likely-to-launch-july-23-sources) and the news helped (together with the overall market good sentiment) the eth price to briefly touch $3500 levels again. Should we see decent inflow in the ETF in its first few days, it is possible that's gonna be the official ignition of a new bullish leg for the Crypto markets (Helmets on). ![](https://storage.googleapis.com/papyrus_images/3c07d06c3808d4f22b466fe1560a8d24.png) * * * ### L2 Vibes ![](https://storage.googleapis.com/papyrus_images/17b1fbf37ff9988145a74aac66bfd9cb.png) _Screenshot from L2Beat_ * [Huddle01](https://x.com/huddle01com), a real time communication (RTC) DePIN protocol [announces the creation of an L3](https://x.com/huddle01com/status/1813239392929976682) on top of **Arbitrum Orbit** using the Caldera's RaaS (Roll up as a Service) toolkit. You can watch an introductory AMA on the HuddleMeet platform [here.](https://lu.ma/huddle01AMA) * You can watch [an explanatory talk about the ZKSync Elastic Chain](https://x.com/modular_summit/status/1813556565842010297) performed during the recent Modular Summit by their Founder [@gluk64](https://x.com/gluk64). * Base launches the [Mister Miggles OnChain campaign](https://www.coinbase.com/en-it/onchain) highlighting the potential of IP-friendly NFTs. Mint the cool ad OnChain to contribute to a creators fund while taking part in the Mister Miggles meme-challenge! * You can learn about [the details around the upcoming Starknet Staking mechanism](https://www.youtube.com/live/_-SjLq3v4bw) and what it means for the Starknet protocol, its vision and its community. * [Polygon begins the final phase of replacing the MATIC token with POL, which will play a central role in the AggLayer.](https://x.com/0xPolygonFdn/status/1813846238455873964) * StarkWare verified [the first validity proof on top of the Bitcoin Signet testnet.](https://x.com/StarkWareLtd/status/1813619696538939455) * Scroll kicks off the [Protocol Symposium seminar](https://scrollzkp.notion.site/Protocol-Symposium-a6590215d4f5406b8be95ed1cbe0ba4c) which is a series of talks about decentralized systems and protocol designs that will take part every thursday until mid-September. * Find out more [about the winning projects](https://x.com/Scroll_ZKP/status/1812850361767706910) of the ETHGlobal Hackathon in the Scroll category. * Optimism unveils [the results of the Fourth OP Retro Funding](https://x.com/Optimism/status/1813598352430313790) round for the community contributors of the Superchain. * [@0xmetaschool](https://twitter.com/0xmetaschool) is holding [a course to help you building a decentralized Music streaming platform](https://x.com/0xmetaschool/status/1813133887351992812) on top of zkSync. * [Camp Network](https://x.com/Camp_L2), an identity-focused platfrom, i[s building its own L2](https://x.com/gelatonetwork/status/1813607545824854153) on top of the OP Superchain using the Gelato RAAS. * [Linea's activities at EthCC round-up.](https://x.com/skate_chain/status/1813558860671553836) * [Mantle turns 1-year old and it celebrated its first year](https://x.com/0xMantle/status/1813547461073678486) with a commemorative NFT and a raffle. * [Metamask unveils the Delegation Toolkit](https://x.com/MetaMaskDev/status/1813309858357059677) to help Devs building better UX for their dApps. You can find a practical feedback about how the kit works [here.](https://x.com/Emathew19/status/1813614788196683893) * EthGlobal is hosting the ["Superhack on the Superchain"](https://x.com/Optimism/status/1814210286401835478) Online Hackathon in collaboration with Optimism and other OP chains like Base, Worldcoin and Celo. * [Polygon Gaming Ecosystem Roundup](https://x.com/0xPolygonEco/status/1814014102391730685) * [Taiko reduces its protocol gas costs significantly](https://x.com/taikoxyz/status/1813934120239825373) * * * ### Dapp World * [EtherFi launched the second round of their airdrop](https://x.com/ether_fi_Fdn/status/1813812805801255068) * [Balancer rebrands its website with a new cool UI/UX](https://x.com/Balancer/status/1813953595785810415) * [Puffer drops a series of tweets giving more details about their UniFi Based Rollup](https://x.com/puffer_finance/status/1814087805024477198) * [Rotkiapp, a privacy-friendly portfolio tracker, issues their latest version](https://x.com/LefterisJP/status/1812821729200251289) * [GMX adds new perpetual token pairs](https://x.com/GMX_IO/status/1813935417068318947) * [Pendles adds two new Ethena-related incentivized pools](https://x.com/pendle_fi/status/1813744095963271456) * [Aerodrome continues to record weekly billions in trading volume during their latest veAERO Rewards Epoch](https://x.com/AerodromeFi/status/1813936875666862106) * [Lens Protocol strikes a partnership with content-authentification platform,](https://x.com/NodleNetwork/status/1811438514300751891) [@NodleNetwork](https://x.com/NodleNetwork/status/1811438514300751891)[.](https://x.com/NodleNetwork/status/1811438514300751891) * [Kaskade Finance launches on Scroll](https://x.com/Kaskade_Finance/status/1813877625787748482) * [The Paymaster tool by AVNU now lets you pay Starknet gas fees in five more different tokens (Influence, Lords, Nostra, Ekubo, zkLend)](https://x.com/avnu_fi/status/1813861662316720482) * [Loot Realms Week and ETHcc activities recap](https://x.com/heraldofloot/status/1814048164778791362) * [gTrade starts Epoch 4 with 186k Arb tokens asboth trading and liquidity incentives](https://x.com/GainsNetwork_io/status/1814088207174172995) * * * Thanks a lot for reading the first edition of "ScaleWatching the Week". We're planning to add more sections from the upcoming editions. **Risk & Disclaimers: The content provided in this newsletter is for informational purposes only and should not be construed as financial, investment, or trading advice. Cryptocurrency investments are highly volatile and subject to significant risks, including the potential loss of your entire investment. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. We do not endorse, recommend, or make any representations about the efficacy, accuracy, or completeness of any information provided herein. By reading this newsletter, you acknowledge and accept that you are solely responsible for any financial decisions you make.** --- *Originally published on [ScaleWatching](https://paragraph.com/@scalewatching/scalewatchingtheweek1219july)*