Insights on Ethereum ‘Dencun’ Upgrade and Top Altcoin Picks
Renowned crypto analyst Miles Deutscher recently shared insights on Ethereum’s upcoming ‘Dencun’ upgrade, predicting a significant impact on the ETH ecosystem. According to Deutscher, several altcoins are positioned to reap substantial benefits from this transformative development.
Upcoming Ethereum’s Dencun Update
On March 13, Ethereum, the world’s second-largest cryptocurrency, is poised for a significant transformation through the ‘Dencun’ hard fork update. The Dencun update is part of ‘The Surge’, a series of updates in Ethereum’s strategic roadmap which is designed to enhance scalability, security, and usability within the network. With various Ethereum Improvement Proposals (EIPs), the Dencun update aims to significantly reduce fees on Ethereum Layer-2s, making these chains more commercially viable for decentralized applications (dApps) and users.
Top 6 Altcoins To Watch
- Optimism: It demonstrates strength in transactions and recently announced its fourth airdrop.
- MATIC: Despite trailing other Layer-2 solutions, MATIC has invested significantly in ZK technology.
- Metis: Positioned for growth and benefits from strong support, including the $400 million Metis Ecosystem Fund.
- Arbitrum: Recognized for its excellent metrics and reputation as a preferred chain for new dApp launches.
- Mantle: Among the fastest-growing Layer-2s, Mantle boasts over $1.5 billion of ETH staked as mETH (Mantle Staked ETH).
- COTI Network: Announcing its V2 release, COTI is a privacy-centric Ethereum Layer-2 introducing ‘Garbled Circuits’ to enhance privacy.
Deutscher also highlights Manta Network, Starknet, zkSync, and Linea as projects to keep an eye on, emphasizing the widespread impact of the Dencun upgrade.
Ethereum Price Analysis
As of now, Ethereum’s price is hovering at $2,992, showing a 2.07% increase in the last 24 hours, with a circulating supply of 120.16 million. This is the highest price since May 2022, bouncing back from a low of $1,000 in June 2022. Even though Ethereum’s recent increase is good news, some experts predict a correction or a price decrease when it reaches $3,200. They expect the price to fall within the range of $2,100 and $1,800, based on Fibonacci retracement levels.
Hot Take: Get Ready for the Push Toward Ethereum’s ‘Dencun’ 👀
You’ve just learned about Ethereum’s ‘Dencun’ upgrade and the impact it could have on the altcoin market. Get ready for the potential benefits and changes as the upgrade unfolds, and keep an eye on the price movement as Ethereum approaches key levels. The upcoming update holds potential for both Ethereum and the altcoins discussed, so stay informed and be ready to capitalize on the opportunities that may arise.
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