Ethereum devs confirm Dencun upgrade’s mainnet deployment, Grayscale calls it ETH’s ‘coming of age’ moment

Ethereum Foundation acknowledged the highly anticipated Dencun give a enhance to has been “successfully activated on all testnets” and is scheduled for deployment on the mainnet by Mar. 13 — at epoch 269568, in response to a Feb. 27 commentary.

According to the Foundation, the give a enhance to will usher in indispensable changes, in conjunction with introducing ephemeral knowledge blobs with EIP-4844. This could perhaps per chance well perhaps seemingly be is known as “protodanksharding” and is anticipated to diminish the blockchain’s Layer-2 network transaction costs.

Ethereum ‘coming-of-age’

Grayscale Investments believes the Dencun give a enhance to represents Ethereum’s “coming-of-age” as this could per chance well drastically give a enhance to its competitiveness in the case of scalability.

Grayscale described ETH’s heart-broken performance in contrast to rival tidy contract-enabled networks over the previous twelve months as its “adolescent segment,” arguing that the Dencun give a enhance to would allow the network to develop.

The firm emphasised that Dencun would be instrumental in addressing Ethereum’s ancient challenges of leisurely transaction speeds, low throughput, and high costs while enhancing its modular receive growth.

This enhancement could per chance well end the gap between ETH Layer-2 alternatives esteem Optimism and Arbitrum versus Solana and potentially triple these Layer-2s’ working margins.

Furthermore, Grayscale highlighted how protocols esteem EigenLayer could per chance well democratize the “security as a carrier” concept to learn the broader change.

“EigenLayer accrues ticket to Ethereum by diversifying its utility and reinforcing its draw as a foundational security layer for the wider crypto ecosystem,” Grayscale acknowledged.

Tag surge

In all places in the previous month, ETH’s ticket has climbed greater than 42% to greater than $3000, with observers suggesting that the dawdle became as soon as fueled by optimism surrounding a seemingly assert Ethereum ETF.

However, Grayscale indicated that this ticket enlarge could per chance well additionally be attributed to the approaching Dencun give a enhance to and the hype generated by its promised improvements.

The firm acknowledged:

“We mediate that contemporary ticket performance displays the market’s anticipation of this give a enhance to, as Ethereum (up 26% YTD) has outperformed the broader Clear Contract Platforms Sector (up 3% YTD) since Jan. 1.”

Ethereum Market Recordsdata

At the time of press 8:42 pm UTC on Feb. 27, 2024, Ethereum is ranked #2 by market cap and the price is up 1.78% over the previous 24 hours. Ethereum has a market capitalization of $389.18 billion with a 24-hour trading quantity of $21.26 billion. Be taught extra about Ethereum ›

Ethereum

8:42 pm UTC on Feb. 27, 2024

$3,238.Ninety nine

1.78%

Crypto Market Summary

At the time of press 8:42 pm UTC on Feb. 27, 2024, the total crypto market is valued at at $2.14 trillion with a 24-hour quantity of $112.37 billion. Bitcoin dominance is currently at 52.19%. Be taught extra regarding the crypto market ›