Gnosis has unveiled plans for the upcoming release of the Dencun update on the Gnosis mainnet, coinciding with Ether (ETH) maintaining its value above $4,000, driven by excitement surrounding the impending Dencun upgrade.
Scheduled for rollout on Wednesday, March 13, this update has sparked heightened attention, especially regarding Ethereum Layer 2 (L2) tokens.
The Dencun upgrade has been activated on the @gnosischain mainnet!
🐡🦉🐡
Next ➡️ Ethereum Mainnet pic.twitter.com/S6GKhfe3TX
The upcoming Dencun upgrade, integrating proto-dank shrading, is poised to enhance Ethereum’s scalability and security, fueling interest in Layer 2 tokens.
Analyst Mike Deutscher emphasizes its potential to substantially lower fees on Ethereum Layer-2 networks by a factor of ten.
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.
Traders are closely watching Layer 2 tokens like Arbitrum (ARB), Optimism (OP), Lido DAO (LDO), and Metis (METIS) for potential gains, as Ethereum’s increased scalability post-Dencun upgrade is expected to benefit them.
The Dencun upgrade, already tested on various Ethereum testnets, is set to launch on the mainnet this week, following last year’s Shanghai upgrade in April 2023, which allowed users to unstake their ETH from Ethereum’s beacon chain.
The anticipation surrounding Gnosis’ Dencun upgrade and its impact on Ethereum’s scalability is palpable, especially given the recent surge in Ether’s value. Layer 2 tokens like Arbitrum and Optimism could see significant gains with lower fees, presenting an opportune moment for traders to capitalize on.
Also Read: Hard Fork Guards Ethereum Against Quantum Threats: Buterin
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