Vitalik’s Roadmap, Korean Crypto Momentum, and Macro Catalysts Could Power ETH Beyond $3K
Ethereum bulls are entering the Asian trading day with renewed optimism as ETH hovers around $2,600. But according to OKX’s Chief Commercial Officer Lennix Lai, Ethereum has a clear path to $3,000—if Vitalik Buterin’s plan to drastically scale Layer 1 infrastructure succeeds.
Speaking to CoinDesk, Lai pointed to Vitalik’s recent remarks at ETHGlobal Prague, where the Ethereum co-founder proposed a 10x increase in Layer 1 performance to reduce dependency on Layer 2 solutions like sharding. “Vitalik’s pivot will be a game-changer,” Lai said. “It shifts the scaling conversation back to the core protocol.”
Lai added that institutional traders are already positioning for this shift. On OKX, ETH perpetual futures made up 44.2% of total trading volume over the past week—an indicator, he said, that sophisticated players are watching this development closely.
Layer 1 refers to Ethereum’s base blockchain layer, while Layer 2s are auxiliary systems built atop it for scaling. But Buterin’s vision, if realized, could redefine Ethereum’s scalability narrative—potentially boosting investor confidence and driving prices higher.
Lai also highlighted macro drivers this week, including the ECB’s interest rate decision and U.S. employment data, as key variables that could further fuel ETH momentum.
Meanwhile, CoinDesk Research’s technical model shows Ethereum holding strong above $2,600 support, underpinned by $1.2 billion in institutional inflows and notable whale accumulation—setting the stage for a broader altcoin rally.
Hashed CEO: South Korea’s Left-Leaning President Won’t Derail Crypto Growth
Simon Kim, CEO of South Korea’s largest crypto fund Hashed, believes the country’s newly elected President Lee Jae-myung will maintain a favorable stance toward digital assets. “It’s business as usual for crypto,” Kim told CoinDesk.
According to Kim, crypto is now more popular than traditional equities in Korea, with 16.29 million daily active crypto traders, compared to 14.24 million in the stock market. This shift has turned digital assets into a political issue—one that parties can no longer afford to ignore.
“Every Korean politician is watching what happens in the U.S.,” Kim said, noting that Korean regulatory frameworks tend to mirror American policy. He confirmed that the country’s crypto capital gains tax, set for 2027, remains unchanged under the new administration.
Kim also expects stablecoins to become a focal point. Despite their growing use—accounting for 10% of all crypto volume in Korea—issuing a stablecoin backed by the Korean won remains challenging due to strict capital controls.
“There’s no real benefit to creating a won-backed stablecoin under current conditions,” Kim said. However, he emphasized stablecoins are evolving into more than payment tools: “They’re infrastructure for smart contracts and autonomous economies.”
On AI policy, Kim predicts Lee’s government will invest heavily in the sector—but not in building general-purpose AI to rival OpenAI. Instead, Korea is likely to focus on “physical AI” that leverages its strengths in semiconductors, electronics, and advanced manufacturing.
“We have unfair advantages in physical AI,” Kim noted. “That’s where I see the biggest opportunity under this new administration.”
News Roundup
Circle IPO Prices at $31, Valued at $6.9B
Stablecoin issuer Circle priced its IPO at $31 per share, above its initial $24–$26 range. The firm raised approximately $1.1 billion, selling 34 million shares and landing a $6.9 billion valuation. Trading begins Thursday on the NYSE under ticker CRCL, following a previously scrapped SPAC deal in 2021.
Trump’s Crypto Links Spotlighted Amid Regulation Push
U.S. lawmakers advanced the Digital Asset Market Clarity Act with two House hearings on Wednesday. Republicans claim the bill is critical to prevent innovation from leaving U.S. shores, while Democrats criticize it as lacking consumer protections and raising concerns about Donald Trump’s crypto business ties.
Markets at a Glance
- Bitcoin (BTC): Volatile, down 1.67% as it struggles to hold $105,000 amid institutional withdrawals and trade tensions
- Ethereum (ETH): Up 4%, bouncing from $2,590 support on whale buying and institutional inflows
- Gold: Up 0.80% to $3,382 on weak U.S. data and rising geopolitical risk
- Nikkei 225: Down 0.39% at open on soft U.S. job data and mixed Asia-Pacific sentiment
- S&P 500: Gained slightly to close at 5,970.81, led by tech stocks despite macro concerns
Other Notable Headlines
- CFTC Nominee Brian Quintenz heads to Senate confirmation hearing June 10 (The Block)
- Ethereum Foundation eyes 2025–26 as transformative period, plans treasury overhaul (The Block)
- Vitalik Buterin again uses privacy tool Railgun, signaling continued focus on on-chain anonymity (CoinDesk)
