Crypto360

2024/03/11 21:05

ARB, OP, LDO, METIS: ETH beta plays heat up this

Ethereum network features Dencun Upgrade on Wednesday, combining two separate updates.  
Markets anticipate dramatic impact on gas fees for Ethereum scaling networks.
Arbitrum, Optimism, Lido DAO and Metis are likely to enjoy liquidity overflows as part of ETH beta plays.
Arbitrum (ARB), Optimism (OP), Lido DAO (LDO) and Metis (METIS) could record some volatility this week as part of the Ethereum (ETH) beta plays. It comes as cryptocurrency markets anticipate March 13, when the Ethereum network’s Dencun Upgrade will take place.

Ethereum Dencun Upgrade due on Wednesday:

Ethereum (ETH) price is holding stable above the $4,000 psychological level, kept buoyant by speculation about the spot ETH exchange-traded funds (ETFs) and the Dencun Upgrade. Based on recent reports, the update has already gone live on Gnosis mainnet. This means you can send blobs on the Gnosis Chain.
However, the Dencun upgrade will take place on Wednesday, March 13, and is intended to significantly reduce transaction costs on Ethereum's Layer-2 (L2). This would make it more efficient and cost-effective for users.

Of note, Dencun has already been pushed live on several of Ethereum's testnets. But the real push, to Ethereum's mainnet, will occur later this week. The upgrade is happening roughly a year after the Shanghai upgrade from April 2023, when the newly upgraded Proof-of-Stake network made it possible for users to un-stake their ETH.

Ethereum price is, therefore, expected to record volatility around this event, but traders could find better trading opportunities with other altcoins on the Ethereum network.

ETH beta plays around Ethereum Dencun upgrade:

Around this event, traders could find opportunities with lower market capitalization sized tokens in the Ethereum network. Among them are Arbitrum, Optimism, Lido DAO, and Metis, with the first two being Layer-2 (L2) networks on Ethereum.

These altcoins could do well if the Dencun Upgrade radically reduces the L2 fees. However, we might see a short-term sell-the-news event.

Other projects that could benefit from the upgrade include Celestia, Avail and EigenDA, which could become more attractive because of the reduced cost of data available on Ethereum.

#Win 200 USDT: Share Your Plan to Save Ethereum#Claim 1,000 U in the June Challenge#BTC price hits a new high of $120,000!

15Share