KEYTAKEAWAYS
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Succinct's SP1 Hypercube zkVM achieves 12-second Ethereum proofs, potentially accelerating ZK Rollup adoption with its open-source, high-efficiency design.
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Ethereum's Pectra upgrade shows mixed results: improved user retention but slight decline in new and reactivated addresses post-implementation.
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SEC delays decisions on XRP and Dogecoin ETFs, maintaining cautious stance while extending review period for crypto-based investment products.
CONTENT
SUCCINCT TO LAUNCH ZKVM “SP1 HYPERCUBE” FOR REAL-TIME ETHEREUM PROOFS
ZK software developer Succinct announced a new zkVM called SP1 Hypercube, which can generate zero-knowledge proofs for Ethereum blocks in about 12 seconds.
In internal tests with 200 Nvidia RTX 4090 GPUs, it achieved 93% real-time proof success with an average time of 10.3 seconds. The system’s verifier and Ethereum prover code have been open-sourced. Full deployment is planned after upcoming audits.
Analysis:
SP1 Hypercube could become a key part of Ethereum’s scaling and privacy infrastructure. It helps bring ZK Rollups to the mainstream and supports faster cross-chain and private applications.
Its open-source and low-cost design will attract global developers and speed up the adoption of ZK tech. Watch for the audit results and whether big projects like Polygon or Celestia start using it—this will show its real impact.
ETHEREUM ACTIVITY DROPS SLIGHTLY AFTER PECTRA UPGRADE
Data from Glassnode shows that after Ethereum’s Pectra upgrade went live on May 7, 2025, user activity has slightly dropped. New addresses fell by 1.8%, and reactivated old addresses dropped by 8.4%.
However, user retention improved, with churn (user loss) falling by 8.5%. It’s not clear if these changes are due to the upgrade itself or broader market conditions.
Analysis:
Pectra didn’t boost new user growth but helped keep existing users engaged. It’s a key part of Ethereum’s “Surge” phase and prepares the network for future upgrades like Danksharding and Fusaka.
If Ethereum can keep improving Layer-2 solutions and user experience, it may strengthen its role as a global financial platform. But it still faces competition and market risks that could slow user growth.
SEC DELAYS DECISION ON XRP AND DOGECOIN ETFS
On May 20, 2025, the U.S. Securities and Exchange Commission (SEC) announced a delay in making decisions on ETF proposals for XRP (by 21Shares and Grayscale) and Dogecoin (by Grayscale).
The SEC said it needs more time to review legal and policy issues related to these proposals. It also postponed a decision on Bitwise’s proposal to allow staking in its Ethereum ETF.
Analysis:
This delay shows the SEC is still cautious about crypto ETFs. While the delay was expected, it might put short-term pressure on XRP and DOGE prices.
In the long run, there’s still a good chance these ETFs could be approved—especially before October 2025. Investors should follow the SEC’s public feedback process and watch for updates between June and October to better understand the market impact.
