The much-anticipated upgrade was several years in the making for its final debut on March 13.
Ethereum's much-anticipated Dencun upgrade, which allows for the reduction of gas fees on layer-2 solutions through proto-dank sharding, has gone live as of March 13, drawing both applause and doubts from speculators.
"I don't think this upgrade will significantly impact ETH's price in the short term," said Ruslan Lienkha, chief of markets at crypto wallet provider YouHodler. “But we may notice an increase in activity on the blockchain. At the same time, I expect ETH's price to grow in the long term because the upgrade will make ETH much more valuable in the growing competition of new innovative layer 1 blockchain projects.”
But for Mara Schmiedt, CEO of liquid staking development firm Alluvial, the implications of the Dencun upgrade are bullish, even in the short term: “In light of Bitcoin's recent institutional surge enabled by recent ETF spot market approvals and total value locked in Ethereum's DeFi ecosystem close to scratching the $100 billion mark, this scalability-focused upgrade is much anticipated," said Schmiedt, adding: “Ethereum has faced scalability issues that have acted as a blocker to mainstream adoption and accommodating the growing number of users and transactions."
