Top 6 Altcoins That Will Benefit From Ethereum’s Dencun Upgrade: Crypto Analyst
February 22 2024 - 3:25AM
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As the Ethereum ecosystem braces for the much-anticipated Dencun
upgrade, renowned crypto analyst Miles Deutscher provides an
in-depth look at the altcoins poised for significant growth.
Scheduled for March 13, the Dencun upgrade is a critical hard fork
aimed at enhancing Ethereum’s scalability, security, and usability.
Deutscher’s insights reveal how specific Layer 2 (L2) solutions are
uniquely positioned to benefit from the upgrade’s introduction of
Proto-Danksharding and other key enhancements. Deutscher explains,
“The Dencun upgrade, especially with EIP-4844, represents a
paradigm shift in how Ethereum will handle transactions. By
drastically lowering gas fees and increasing throughput, we’re
looking at a more accessible, efficient blockchain.” This upgrade
is part of Ethereum’s broader roadmap, known as “The Surge,”
focusing on scalability improvements. Top-6 Altcoins To Watch Prior
To Dencun #1 Polygon (MATIC/POL): With its impending rebrand and
investment in zk-technology, Polygon is at a pivotal juncture.
Deutscher notes, “Polygon’s deep dive into zk-rollups could
redefine its position in the L2 landscape, making MATIC an
attractive asset for forward-looking investors.” Related Reading:
Ethereum Whale Buys $187 Million ETH In 3-Day Spree, Anticipating
Further Surge? #2 Arbitrum (ARB): As the leading L2 by TVL and
transaction volume, Arbitrum’s robustness is undisputed. “Arbitrum
has cemented its position as a powerhouse in the L2 space, and the
Dencun upgrade will only amplify its strengths,” Deutscher remarks.
#3 Optimism (OP): Positioned as a strong contender in the L2 space,
Optimism’s ecosystem is set to expand. “The announcement of
Optimism’s fourth airdrop is not just a reward for its community
but a strategic move to bolster its ecosystem’s vibrancy,” says
Deutscher. #4 COTI Network (COTI): With the launch of V2 and its
innovative ‘Garbled Circuits,’ COTI introduces a groundbreaking
privacy solution. Deutscher observes, “COTI’s approach to privacy
on the blockchain through ‘Garbled Circuits’ is a game-changer,
potentially setting a new standard for private transactions.”
Related Reading: Ethereum Price Tops $3,000, But ‘Is Completely
Detached From Reality’: Expert #5 Mantle (MNT): Highlighting
Mantle’s rapid growth, Deutscher points out, “With $1.5 billion in
ETH now staked as mETH, Mantle is not just growing; it’s thriving,
supported by strategic airdrops that reward its community.” #6
Metis (METIS): Identified as a potentially undervalued project,
Metis’s upcoming initiatives are a beacon for investors. “Metis’s
decentralized sequencer and the substantial METIS Ecosystem Fund
are laying the groundwork for a robust, decentralized future,
making it an intriguing prospect post-Dencun,” Deutscher explains.
Broader Implications For Ethereum Deutscher also casts a spotlight
on Manta Network, Starknet, zkSync, and Linea as projects to watch,
emphasizing the widespread impact of the Dencun upgrade. He
advises, “The ETH/L2 trade is increasingly compelling as we
approach the Dencun upgrade. Shifting a significant portion of
one’s portfolio into the Ethereum ecosystem seems prudent, given
the transformative potential of the upcoming changes.” At press
time, ETH still traded just below the $3,000 mark. Featured image
from Shutterstock chart from TradingView.com
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