Ethereum Foundation Has Launched Dencun Upgrade Across Its Testnets – ETH Braces For A Bull Run

As the most awaited Ethereum Dencun upgrade approaches, the Ethereum Foundation has successfully launched the activation of the Dencun upgrade in all its testnets as of yesterday, February 27. Meanwhile, the Dencun network upgrade on Ethereum’s mainnet is set to be activated on March 13th.

Few Improvements On The Dencun Upgrade

The Dencun upgrade comes after the Shapella upgrade from last year with several added changes that aim to improve Ethereum’s network efficiency and capacity. Among the notable enhancements, is the implementation of temporary data blobs through Ethereum Improvement Proposal (EIP) 4844, also called protodanksharding. 

Protodanksharding helps to reduce Layer-2 transaction fees and make Ethereum more accessible and cost-friendly for users. On the other hand, Blobs will help minimize storage and processing requirements by caching data for short-term transaction verification and improve the network’s transactional capability. 

Meanwhile, Dan Gambardello from Crypto Capital Venture, says that Ethereum and other top altcoins are now preparing for a significant bull run. Aside from Bitcoin hitting the $57,000 threshold yesterday, Gambardello thinks that Ethereum is also making its way for a bull run. He explains that Ethereum’s Relative Strength Index (RSI) is marking its highest level since 2020. 

Comparing the similarities between ETH’s RSI now and in November 2020, it would appear that ETH RSI is oscillating on the same path it took in 2020 when it broke the bull market door. As of this writing, Ethereum (ETH) is trading at $3,299.59 showing a 1.11% increase in the last 24 hours. Its total market cap has also increased by 1.22% increase to $396.9 billion.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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