2 months ago
The imminent motorboat of the Ethereum Dencun upgrade astatine 14.00 UTC today, March 13, has sparked a notable surge successful the prices of autochthonal tokens for layer-2 protocols, including Arbitrum, Polygon, and Optimism.
According to CryptoSlate’s data, the assemblage has surged by astir 5% successful the past 24 hours, reaching a full marketplace capitalization of $20.21 billion. This maturation maintains a accordant upward inclination of 10% observed passim the week.
Layer-2 tokens increase
In the past 24 hours, Arbitrum’s ARB token surged by astir 10% to scope $2.18. This surge coincides with the team’s planned release of implicit $1 cardinal ARB tokens this week.
Arbitrum is the starring layer-2 Ethereum scaling solution, with assets worthy astir $16 cardinal locked connected the platform, according to L2Beat.
During the aforesaid period, Polygon network’s MATIC token witnessed a 4% uptick to $1.23, marking its highest worth since March 2023. This upward inclination is concurrent with a notable summation successful the progressive addresses connected the Polygon PoS chain, which recorded implicit 1 cardinal regular progressive addresses for 20 consecutive days.
Similarly, Optimism’s OP token roseate by 2.26% to $4.5, according to CryptoSlate data, a important milestone considering its starting constituent astatine astir $3.5 earlier this month.
Notably, the Optimism Foundation disclosed a backstage merchantability of 19.5 cardinal OP tokens past week. While the purchaser remains undisclosed, the statement includes a 2-year vesting period.
Lastly, Loopring’s LRC experienced a much humble summation of 1.34% during the aforesaid reporting period, presently trading astatine $0.43140 arsenic of property time.
Why are they rising?
The token’s terms surge tin beryllium credited to the upcoming Dencun upgrade, which is acceptable to motorboat wrong a fewer hours.
Dencun aims to amended Ethereum’s web scalability significantly. The integration of EIP-4844, known arsenic proto-dank sharding, volition present blob-type transactions, lowering transaction costs for layer-2 chains. This determination volition alteration wide scalability via layer-2 rollups by minimizing information availability expenses.
Projected Ethereum L2 Networks Gas Fees After Dencun Upgrade. (Source: IntoTheBlock)Mara Schmiedt, the CEO of Alluvial Finance, told CryptoSlate that the Dencun Upgrade represents a elephantine leap successful Ethereum’s ecosystem resilience and performance.
According to her:
“The operation of Ethereum’s rollup-centric scalability model, the upcoming Dencun upgrade, and the accelerated proliferation and transaction maturation connected L2 points to an optimistic future.”
The station Ethereum Dencun upgrade time triggers surge successful furniture 2 protocol token value appeared archetypal connected CryptoSlate.
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