Top Altcoins Poised For Minimum 5x Surge Ahead of Ethereum Dencun Upgrade – Coinpedia Fintech News
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Ethereum’s Dencun upgrade (March 13) aims to cut fees on Layer-2s.
The upgrade focuses on scalability, security, and usability within the Ethereum network.
Ethereum price is at $2,992 (highest since May 2022), but experts predict a potential correction.
Renowned crypto analyst Miles Deutscher recently dived into the upcoming ‘Dencun’ upgrade for Ethereum, foreseeing a substantial impact on the ETH ecosystem. Deutscher points out that this development is set to benefit various altcoins significantly.
Ethereum's ‘Dencun’ upgrade is going to have a massive impact on the ETH ecosystem.
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.
Read more about this below.
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.
The ‘Dencun’ update, featuring Ethereum Improvement Proposals (EIPs), aims to cut fees on Ethereum Layer-2s significantly. This move is strategic, making these chains more commercially viable for decentralized applications (dApps) and users.
Also Read: Ethereum’s Mainnet Set For Much-Anticipated ‘Dencun’ Upgrade On March 13: Here’s The Possible ETH Price Reaction
Miles Deutscher has identified six altcoins poised to ride the wave of Ethereum’s upcoming Dencun upgrade:
Deutscher also highlights Manta Network, Starknet, zkSync, and Linea as projects worth keeping an eye on, emphasizing the broad impact of the Dencun upgrade.
As of now, Ethereum’s price is 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.
Read More: Altseason is Here! Here are Arthur Hayes’ Top 8 Crypto Picks
Despite this positive trend, experts predict a potential correction or a price decrease around the $3,200 mark. Projections suggest the price may fall within the range of $2,100 and $1,800, based on Fibonacci retracement levels.
Investors are advised to stay alert in this dynamic market scenario.