The Dencun Upgrade: What You Need to Know Before Ethereum’s Mainnet Activation 🚀
After months of meticulous research and planning, the Ethereum (ETH) core developers are set to activate the Dencun upgrade on the mainnet today. This upgrade, set to take place at epoch 269568, will bring several changes to the Ethereum network that you need to be aware of.
What to Expect for Ethereum’s Dencun Upgrade
Here are some key changes and updates you can expect with the Dencun upgrade:
- Introduction of ephemeral data blobs with EIP-4844 for reduced transaction fees on Layer Twos network.
- Implementation of transient storage opcodes through EIP-1153.
- Beacon block root in the EVM via EIP-4788.
- MCOPY (memory copying instructions) EIP-5656, among other changes.
Impact on Ethereum Network and Ether’s Price Action
The growth of the Ethereum network has positioned it as a leader in the smart contract and web3 ecosystem. With over $57 billion in Total Value Locked (TVL) and a significant share in the stablecoins market cap, Ethereum has shown consistent growth.
As a result, Ethereum’s price has climbed by over 82 percent in the last five weeks, reaching $4,047 during the London session. While Bitcoin may experience short-term weaknesses leading to a market correction, Ethereum is poised to rally towards its All-Time High (ATH) in the upcoming weeks.
Hot Take: Get Ready for Ethereum’s Dencun Upgrade 🚀
Keep an eye on Ethereum’s price action post the Dencun upgrade activation. With the network enhancements and positive market sentiment, Ethereum could see significant price movements in the near future. Stay informed and prepared to seize potential opportunities in the evolving crypto market!
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