6 Altcoins Set to Skyrocket as Ethereum’s Dencun Upgrade Approaches!

As the Ethereum ecosystem prepares for the upcoming Dencun upgrade, Miles Deutscher offers a detailed analysis of the alternative coins set for potential growth.

6 Altcoins Set to Gain from Ethereum’s EIP-1559 Upgrade

Introduction

As the Ethereum ecosystem eagerly awaits the upcoming Dencun upgrade, renowned crypto analyst Miles Deutscher sheds light on the altcoins that are poised for significant growth in the wake of this major development. Scheduled to take place on March 13, the Dencun upgrade is a critical hard fork designed to enhance Ethereum’s scalability, security, and usability. Deutscher’s expert insights reveal how specific Layer 2 (L2) solutions are uniquely positioned to benefit from the introduction of Proto-Danksharding and other key enhancements brought about by the Dencun upgrade.

The Dencun Upgrade: A Paradigm Shift for Ethereum

According to Deutscher, the Dencun upgrade, particularly with the inclusion of EIP-4844, marks a significant shift in how Ethereum will handle transactions. By significantly reducing gas fees and increasing throughput, Ethereum is expected to become a more accessible and efficient blockchain. This upgrade is part of Ethereum’s broader roadmap, known as “The Surge,” which focuses on scalability improvements.

Top 6 Altcoins to Watch Prior to Dencun

Here are the altcoins that Deutscher believes are worth keeping an eye on before the Dencun upgrade:

1. Polygon (MATIC/POL)

Polygon, with its imminent rebranding and investment in zk-technology, finds itself at a crucial 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.”

• BNB Overtakes Solana in Market Capitalization Amidst Legal Troubles
• 🌟 Crypto Market Update: Bitcoin and Ether Experience Volatility, Alt Season on the Horizon? 📈📉
• Major meme-based cryptocurrencies experience a decline during the latest market surge

2. Arbitrum (ARB)

With its dominant position as the leading L2 solution in terms of Total Value Locked (TVL) and transaction volume, Arbitrum’s robustness is unquestionable. Deutscher asserts, “Arbitrum has solidified its position as a powerhouse in the L2 space, and the Dencun upgrade will only amplify its strengths.”

3. Optimism (OP)

Optimism, positioned as a strong contender in the L2 space, is expected to witness significant ecosystem expansion. Deutscher affirms, “The announcement of Optimism’s fourth airdrop not only rewards its community but also strategically bolsters its ecosystem’s vibrancy.”

4. COTI Network (COTI)

With the launch of V2 and its groundbreaking ‘Garbled Circuits’ technology, COTI introduces an innovative 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.”

5. Mantle (MNT)

Mantle’s rapid growth catches Deutscher’s attention, stating, “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 serve as a beacon for investors. Deutscher explains, “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.”

Broader Implications for Ethereum

Deutscher also highlights 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 becoming increasingly compelling as we approach the Dencun upgrade. Shifting a significant portion of your portfolio into the Ethereum ecosystem seems prudent, considering the transformative potential of the upcoming changes.”

ETH price, 1-week chart | Source: ETHUSD on TradingView.com

Conclusion

With the Dencun upgrade on the horizon, it is an opportune time for investors and enthusiasts to keep a close eye on the altcoins poised for growth. As Ethereum continues its journey towards scalability, security, and usability, these altcoins stand to benefit significantly. The Dencun upgrade represents a paradigm shift, and those who position themselves wisely may reap substantial rewards.

💡 Q&A Section 💡

Q: How will the Dencun upgrade impact Ethereum’s scalability? A: The Dencun upgrade aims to enhance Ethereum’s scalability by reducing gas fees and increasing throughput. This means that more transactions can be processed quickly and at a lower cost, making Ethereum a more scalable and efficient blockchain.

Q: Why are Layer 2 solutions important in the context of the Dencun upgrade? A: Layer 2 solutions, such as zk-rollups, are crucial for scaling Ethereum and alleviating network congestion. They allow transactions to be processed off-chain, reducing the burden on the Ethereum mainnet and improving overall scalability.

Q: What makes these altcoins attractive investment opportunities? A: These altcoins offer unique features and technologies that position them for growth in the L2 landscape. From Polygon’s rebranding and investment in zk-technology to COTI’s groundbreaking privacy solution and Mantle’s rapid growth, each altcoin brings something special to the table, making it an attractive investment opportunity.

Q: Should I consider shifting a significant portion of my portfolio into the Ethereum ecosystem? A: While it ultimately depends on your investment strategy and risk tolerance, the transformative potential of the upcoming Dencun upgrade makes the ETH/L2 trade increasingly compelling. However, it’s always advisable to conduct thorough research and seek professional advice before making any investment decisions.

Reference List

1. Link to Twitter post by Miles Deutscher
2. Link to article on ERC404 Hybrid NFT Tokens
3. Link to article on Ethereum price
4. Link to article on ETHUSD on TradingView.com

We will continue to update Blocking; if you have any questions or suggestions, please contact us!