Top Altcoins Poised For Minimum 5x Surge Ahead of Ethereum Dencun Upgrade

Renowned crypto analyst Miles Deutscher recently dived into the upcoming ‘Dencun’ upgrade for Ethereum, foreseeing a substantial impact on the ETH ecosystem. Deutscher points out that this development is set to benefit various altcoins significantly.

Read more about this below.

Upcoming Ethereum’s Dencun Update

On March 13, Ethereum, the world’s second-largest cryptocurrency, is poised for a significant transformation through the ‘Dencun’ hard fork update. However, The Dencun update is part of ‘The Surge’, a series of updates in Ethereum’s strategic roadmap which is designed to enhance scalability, security, and usability within the network.

The ‘Dencun’ update, featuring Ethereum Improvement Proposals (EIPs), aims to cut fees on Ethereum Layer-2s significantly. This move is strategic, making these chains more commercially viable for decentralized applications (dApps) and users.

Also Read: Ethereum’s Mainnet Set For Much-Anticipated ‘Dencun’ Upgrade On March 13: Here’s The Possible ETH Price Reaction

Top 6 Altcoins To Watch

Miles Deutscher has identified six altcoins poised to ride the wave of Ethereum’s upcoming Dencun upgrade:

• Optimism: As the second-largest Layer-2 by TVL, Optimism has demonstrated strength in transactions and recently announced its fourth airdrop.
• MATIC: Despite trailing other Layer-2 solutions, MATIC has invested significantly in ZK technology.
• Metis: Positioned for growth, Metis benefits from strong support, including the $400 million Metis Ecosystem Fund, and plans to launch a decentralized sequencer alpha mainnet in March.
• Arbitrum: Recognized for its excellent metrics and reputation as a preferred chain for new dApp launches, Arbitrum leads in Total Value Locked (TVL) and transaction volume.
• Mantle: Among the fastest-growing Layer-2s, Mantle boasts over $1.5 billion of ETH staked as mETH (Mantle Staked ETH), ranking as the third-largest Liquid Staking Derivative (LSD).
• COTI Network: Announcing its V2 release, COTI is a privacy-centric Ethereum Layer-2 introducing ‘Garbled Circuits’ to enhance privacy.

Deutscher also highlights Manta Network, Starknet, zkSync, and Linea as projects worth keeping an eye on, emphasizing the broad impact of the Dencun upgrade.

Ethereum Price Analysis

As of now, Ethereum’s price is at $2,992, showing a 2.07% increase in the last 24 hours, with a circulating supply of 120.16 million. This is the highest price since May 2022, bouncing back from a low of $1,000 in June 2022.

Despite this positive trend, experts predict a potential correction or a price decrease around the $3,200 mark. Projections suggest the price may fall within the range of $2,100 and $1,800, based on Fibonacci retracement levels.

Investors are advised to stay alert in this dynamic market scenario.