Analyst Advises Adding THESE Altcoins to Your Portfolio Now Following Ethereum Dencun Upgrade
Ethereum’s upcoming ‘Dencun’ upgrade is set to have a profound impact on the ETH ecosystem, according to renowned crypto analyst Miles Deutscher. The upgrade, scheduled for March 13, is part of Ethereum’s strategic roadmap known as ‘The Surge’ and focuses on scalability, security, and usability within the network. The main objective of the ‘Dencun’ update is to significantly reduce fees on Ethereum Layer-2s, making these chains more attractive for decentralized applications (dApps) and users.
Deutscher has identified six altcoins that are poised to benefit from Ethereum’s ‘Dencun’ upgrade. These include Optimism, which has demonstrated strength in transactions and recently announced its fourth airdrop. Despite trailing other Layer-2 solutions, MATIC has made significant investments in ZK technology. Metis, supported by the $400 million Metis Ecosystem Fund, is positioned for growth and plans to launch a decentralized sequencer alpha mainnet in March. Arbitrum, known for its excellent metrics and preferred chain status for new dApp launches, leads in Total Value Locked (TVL) and transaction volume. Mantle, one of the fastest-growing Layer-2s, has over $1.5 billion of ETH staked as mETH (Mantle Staked ETH) and ranks as the third-largest Liquid Staking Derivative (LSD). COTI Network, a privacy-centric Ethereum Layer-2, has announced its V2 release, introducing ‘Garbled Circuits’ to enhance privacy. Deutscher also highlights Manta Network, Starknet, zkSync, and Linea as projects worth monitoring, emphasizing the broad impact of the ‘Dencun’ upgrade.
Currently, Ethereum’s price stands at $2,992, marking the highest price since May 2022 and rebounding from a low of $1,000 in June 2022. However, experts predict a potential correction or price decrease around the $3,200 mark. Fibonacci retracement levels suggest a price range between $2,100 and $1,800. Investors are advised to remain vigilant in this dynamic market scenario.