These Altcoins to Watch as Ethereum’s Dencun Update Approaches, Say Crypto Analyst
The post These Altcoins to Watch as Ethereum’s Dencun Update Approaches, Say Crypto Analyst appeared first on Coinpedia Fintech News
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.
Ethereum's ‘Dencun’ upgrade is going to have a massive impact on the ETH ecosystem.
— Miles Deutscher (@milesdeutscher) February 21, 2024
There are a few altcoins which are set to benefit immensely.
But you have a limited window to capitalise.: Everything you need to know about Dencun (EIP-4844) + my top altcoin picks.
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. However, 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
Cryptocurrency analyst Miles Deutscher has pinpointed six altcoins poised to benefit significantly from the upcoming Dencun upgrade:
Optimism: As the second-largest Layer-2 by TVL, Optimism has demonstrated 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, Metis benefits from strong support, including the $400 million Metis Ecosystem Fund, and plans to launch a decentralized sequencer alpha mainnet in March.
Arbitrum: Recognized for its excellent metrics and reputation as a preferred chain for new dApp launches, Arbitrum leads in Total Value Locked (TVL) and transaction volume.
Mantle: Among the fastest-growing Layer-2s, Mantle boasts over $1.5 billion of ETH staked as mETH (Mantle Staked ETH), ranking as the third-largest Liquid Staking Derivative (LSD).
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.
These Altcoins to Watch as Ethereum’s Dencun Update Approaches, Say Crypto Analyst
The post These Altcoins to Watch as Ethereum’s Dencun Update Approaches, Say Crypto Analyst appeared first on Coinpedia Fintech News
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.
Ethereum's ‘Dencun’ upgrade is going to have a massive impact on the ETH ecosystem.
— Miles Deutscher (@milesdeutscher) February 21, 2024
There are a few altcoins which are set to benefit immensely.
But you have a limited window to capitalise.
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. However, 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
Cryptocurrency analyst Miles Deutscher has pinpointed six altcoins poised to benefit significantly from the upcoming Dencun upgrade:
Optimism: As the second-largest Layer-2 by TVL, Optimism has demonstrated 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, Metis benefits from strong support, including the $400 million Metis Ecosystem Fund, and plans to launch a decentralized sequencer alpha mainnet in March.
Arbitrum: Recognized for its excellent metrics and reputation as a preferred chain for new dApp launches, Arbitrum leads in Total Value Locked (TVL) and transaction volume.
Mantle: Among the fastest-growing Layer-2s, Mantle boasts over $1.5 billion of ETH staked as mETH (Mantle Staked ETH), ranking as the third-largest Liquid Staking Derivative (LSD).
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.