Ethereum’s Anticipated ‘Duncan’ Upgrade
Prepare for the much-awaited ‘Duncan’ upgrade for Ethereum, scheduled to go live on the mainnet on March 13. Officially confirmed by ETH developers, the upgrade, also known as a “hard fork,” will take place at slot 8626176, or 13:55 UTC on March 13. Its timing will be formally approved and verified through GitHub, the open-source software platform. This upgrade introduces “proto-dank sharding,” which reduces rollup transaction fees by using data “blobs,” a new data-storing approach. The strategy ensures minimal disruption to the system by allowing developers to detect and fix glitches efficiently before the public release.
Predicting ETH Price Surge Post-Upgrade
Ryan Berckmans, an Ethereum investor and community member, suggests that Ethereum could reach $27,000 in the upcoming bull cycle, with less selling pressure from miners post-upgrade. Amid high hopes for Ethereum’s scaling upgrades and the US presidential election’s impact on crypto prices, there may be some short-term correction before the surge during the Duncan upgrade. Historical patterns show that Ethereum’s price may initially decline due to a ‘sell the news’ event, similar to what was seen after the Merge event in September 2022. But despite short positions, the ETH price could gradually recover, retesting the $2,000 level in March. Expect some bullish momentum ahead.
Hot Take
Keep an eye on Ethereum’s price movements leading up to and following the Duncan upgrade. The upgrade is a significant milestone for the leading cryptocurrency and has the potential to trigger a notable surge in price. However, be prepared for potential short-term corrections as well. Overall, the optimism is high for Ethereum’s future performance and the impact of upcoming developments on its price. Stay informed and be ready to navigate the market amid the current market conditions.
Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino’s insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content.