On July 6th, Ethereum developers held their 165th All-Core Developer Executive (ACDE) conference call on Zoom. The session was moderated by Danny Ryan, a researcher at the Ethereum Foundation and chair of the All Core Developers Consensus (ACDC) conference call. On ACDE #165, the developers discussed the following: impact analysis on EIP 6466 and 6406, Cancun/Deneb testing work progress, adding builder override flags to the engine API, and inclusion of two ring buffers to the EIP 4788 specification middle.

Avorak AI, a blockchain platform, has highlighted Ethereum's potential for significant advancements due to its robust infrastructure and ongoing developments. Ethereum is a decentralized blockchain platform that allows developers to create and deploy applications on its network, using its underlying cryptocurrency, Ether (ETH). Its programmable nature has led to widespread adoption and innovation in various domains, such as finance, DeFi, and gaming. 

Despite a recent drop in Ethereum's price, there has been a 20% increase in the number of ETH NFT sellers and buyers last month. While there was a decline in NFT sales and mints, there was a 48% increase in mints in June. 

Guy Turner, the host of Coin Bureau, has identified two upcoming milestones that could potentially trigger a bullish run for Ethereum (ETH). The first milestone is the proto-danksharding upgrade, which will address Ethereum's main bottleneck to scalability by making transaction data more readily available. The second milestone is an effort to enhance privacy, which has become a sudden focus due to institutional investors' interest in privacy. Turner believes that these two catalysts could send ETH's price higher.

Ethereum has been struggling to surpass the $2,000 resistance level, while Bitcoin has seen an increase of 11.94% in June. Despite efforts to break through the $1,900 resistance level, Ethereum has experienced a decline in activity and a drop in the value of NFT collections. However, the demand for liquid staking derivatives (LSD) such as Lido's stETH is rising, with more ETH being moved towards staking than selling on exchanges. This provides a safety net for any potential downside and suggests that the price of Ethereum is likely to establish bullish support.

Grayscale has added Lido to its DeFi fund, becoming the second-largest asset with a 19.04% share. Lido's liquid staking service offers stETH, the seventh-largest cryptocurrency, which provides cheaper staking on Ethereum. However, Grayscale's DeFi fund has underperformed since its launch, with a significant decline of over 73% and only $3.1 million in assets, in contrast to Grayscale's Bitcoin Trust, which has over $18 billion. Lido met the requirements for CoinDesk's DeFi Select Index (DFX) and was officially included in July.

Vitalik Buterin, Ethereum co-founder, participated in a Twitter Spaces session where he discussed new developments on the Bitcoin blockchain, specifically praising the introduction of Bitcoin Ordinals as a revival of the "builder culture" and a shift away from stagnant politics. He suggested Bitcoin developers prioritize layer-2 solutions and improving the efficiency of the base layer, but faced criticism from Bitcoin fundamentalists who argue that Smart Contracts and NFTs dilute Bitcoin's core peer-to-peer cash functionality.

The Ordinals space, enabling the creation of NFT-like media assets on the Bitcoin blockchain, is experiencing rapid growth with the introduction of new products and the expansion of BRC-20 tokens to Ethereum. ORDI and OXBT, leading BRC-20 tokens, have partnered with Emblem to launch BRC-20 Curated Collections, enabling cross-chain token storage. These collections are significant as they provide insight into the nature of BRC-20 assets, with resulting NFTs being traded on OpenSea and Blur marketplaces.

Avail, a blockchain network, has launched a testnet data availability bridge to Ethereum. The bridge will allow developers to create low-cost layer-2s called "validiums" that do not store full transaction data on Ethereum. This will reduce transaction fees and pave the way for a more efficient layer-2 and layer-3 ecosystem. Avail was originally created by Polygon Labs and was spun off as an independent project in March.

The Ethereum domain name service ENS tweeted that it generated $1.5 million in agreement revenue in June, all of which had flowed into ENS DAO. In June, 36,000 new .eth domain names were registered, and there are currently a total of 2.72 million domain names.

Ethereum co-founder Vitalik Buterin believes that the introduction of Bitcoin Ordinals represents a return to a culture of "doing things" within the Bitcoin network. Buterin praised the Ordinals and the BRC-20 token standard for rejecting stagnant politics in the Bitcoin ecosystem.

The lending protocol Aave released a vote to deploy Aave V3 on the Linea test network as a transition to the upcoming main network deployment, and has currently received 99.98% approval. Linea is a scalable L2 network based on Ethereum, driven by the zkEVM technology stack incubated by Consensys, designed to support a broad ecosystem and cooperate with products such as MetaMask, Infura and Truffle.

There exist risks of sequence centralization in current rollup networks, and various sequencing layer projects are being launched to solve this problem.

Ethereum's price broke through the 100-day moving average and upper trendline of a descending channel, leading to a significant rally that reached the resistance level of $2K. However, the price has since faced rejection and is now consolidating around this crucial resistance.

Cryptocurrency lending firm Celsius Network has started converting its assets into Bitcoin and Ethereum, with pre-owned altcoins being moved into new wallets. This move follows approval from the US Bankruptcy Court in New York on 1 July.

Despite a rise in price, Ethereum's network activity has not seen a significant increase. However, staking deposits have increased since the launch of the Shapella Upgrade, as many Ethereum holders are looking to enjoy staking yields instead of cashing out in the market. The total number of transfers to all centralized exchanges has remained flat.

Metis, a layer-2 platform on Ethereum, has warned users not to purchase METIS on the BNB Blockchain following the recent PolyNetwork hack, which resulted in the theft of $5.5 million in assets.

Crypto analytics service provider Glassnode has highlighted a lack of correlation between Ethereum's recent price growth and its on-chain activity. Despite lower transaction fees, network activity has slowed, with gas prices rising by just 28% compared to 78% during the Shanghai upgrade event in April.

According to a report by CCData, institutional investors have been actively trading various financial instruments linked to Bitcoin and Ethereum, including spot trading volumes, derivatives trading, and CME Futures Contracts.

Demand for liquid staking has surged by 91% in the Solana ecosystem, with protocols like Marinade Finance, Lido, Jito, JPool, and Socean holding $187 million in staked SOL tokens by the end of June. This comprises most of the $270 million currently locked in Solana's DeFi ecosystem. However, Ethereum remains the king of DeFi with $26 billion out of $44 billion locked across the industry.