- Dencun is Ethereum’s Dencun upgrade On the 13th, March 2013, we went live.
- Since then, there has been a noticeable decline in the transaction fees charged by L2 networks.
In the last 24-hours, transaction costs have dropped significantly on leading layer 2 networks.
The successful deployment of Dencun upgrade Activation of EIP4844 in the Ethereum [ETH] mainnet.
Dencun Hard fork is the largest upgrade The Ethereum network has been live since September 2022. It went live on 13th March at 1:55 UTC.
You can also read about the advantages of using reported Dencun upgrade The goal is to increase Ethereum’s scaling and to, in particular, reduce the transaction fees charged by L2 providers.
What are the average transaction costs on L2s? Optimism [OP], Arbitrum [ARB]The price of Base, zkSync, and Dencun has dropped by 92, 23, 94, 33% respectively since the Dencun fork.
AMBCrypto obtained this information via Dune Analysis dashboard Marcov.
The ETH is in safe hands
At the time of publication, ETH was valued at $3,988. CoinMarketCap’s data.
There is a statistically positive correlation between Bitcoin [BTC]The altcoin’s price increased by 5% in the same time frame.
An increase of 2% in supply at cryptocurrency exchanges during the last seven days indicates an increased level of profit-taking.
Looking at its daily performance, it is clear that the sentiment on the market remains bullish.
The MACD line is clearly visible (blue), above both the orange trend and the zero line.
This indicates a bullish market momentum.
The short-term average moving price is higher than the long-term average moving price, suggesting that there may be room for further growth.
Click Here to Read Ethereum’s [ETH] Price Prediction 2024-25
The altcoin’s Chaikin Cash Flow (CMF), as at this time, was 0.26. ETH CMF was in an upward trend and showed a value above zero. This indicates that the liquidity flow into the market remained strong.
At the time of press, the relative strength index (RSI), and money flow (MFI) for the top altcoin were 76.57 (RSI), and 65.54 (MFI), respectively. These values show that coins are being accumulated more than they are being sold.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com