Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Dencun Upgrade Leads to Dramatic Drop in Transaction Fees for Ethereum's Layer-2s

Dencun Upgrade Leads to Dramatic Drop in Transaction Fees for Ethereum's Layer-2s

Bitget2024/03/15 05:45
By:Bitget
Ethereum recently rolled out the "Dencun'' upgrade, aiming to reduce data fees and improve scalability across its network. This upgrade is designed to benefit layer-2 networks like Arbitrum, zkSync, and Polygon, by facilitating faster and cheaper transactions.
Dencun Upgrade Leads to Dramatic Drop in Transaction Fees for Ethereum's Layer-2s image 0
Following the successful upgrade in March 13, there has been a remarkable reduction in transaction costs on layer-2 chains, with major networks implementing blobs experiencing significant drops in average fees. For instance, on platforms like Optimism and Starknet, median gas fees have plummeted by several folds, making transactions significantly more affordable for users. This development proves the effectiveness of the Dencun upgrade in enhancing the efficiency and cost-effectiveness of Ethereum's ecosystem, and paves the way for broader adoption and scalability. However, as the number of rollups utilizing blobs increases, competition for blob space may intensify, potentially leading to slightly higher transaction costs in the future.
Despite this potential challenge, the Dencun upgrade marks a significant leap forward in Ethereum's quest to address high transaction fees and lay the groundwork for broader blockchain scalability.
Source: The Block

Futures market Updates

Bitcoin futures saw a slight decrease in total open interest, while trading volume impressively surged by 76.22% in the past 24 hours. Long liquidations for Bitcoin futures more than tripled short liquidations, despite a relatively balanced long/short ratio. Similarly, Ether futures experienced a slight dip in open interest, with a trading volume increasing by 55.32%. Long liquidations were five times more than short liquidations, even though Ether futures had a balanced long/short ratio.

Bitcoin Futures Updates

Total BTC Open Interest: $36.02B (-5.68%)
BTC Volume (24H): $142.12B (+76.22%)
BTC Liquidations (24H): $135.74M (Long)/$41.27M (Short)
Long/Short Ratio: 49.49%/50.51%
Funding Rate: 0.0435%

Ether Futures Updates

Total ETH Open Interest: $13.80B (-4.50%)
ETH Volume (24H): $56.07B (+55.32%)
ETH Liquidations (24H): $79.68M (Long)/$15.18M (Short)
Long/Short Ratio: 50.35%/49.65%
Funding Rate: 0.0458%
 

Top 3 OI Surges

VARY: $10.09M (+216.74%)
FRONT: $56.09M (+131.55%)
RAY: $882.11K (+63.98%)
0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Borrowing short to repay long: The Bank of England and the Bank of Japan lead the shift from long-term bonds to high-frequency "interest rate gambling"

If expectations are not met, the government will face risks of uncontrollable costs and fiscal sustainability due to frequent rollovers.

ForesightNews2025/12/03 17:02
Borrowing short to repay long: The Bank of England and the Bank of Japan lead the shift from long-term bonds to high-frequency "interest rate gambling"

How do 8 top investment banks view 2026? Gemini has summarized the key points for you

2026 will not be a year suitable for passive investing; instead, it will belong to investors who are skilled at interpreting market signals.

BlockBeats2025/12/03 16:25
How do 8 top investment banks view 2026? Gemini has summarized the key points for you

Valuation Soars to 11 Billions: How Is Kalshi Defying Regulatory Pressure to Surge Ahead?

While Kalshi faces lawsuits and regulatory classification as gambling in multiple states, its trading volume is surging and its valuation has soared to 11 billion dollars, revealing the structural contradictions of prediction markets rapidly growing in the legal gray areas of the United States.

BlockBeats2025/12/03 16:25
Valuation Soars to 11 Billions: How Is Kalshi Defying Regulatory Pressure to Surge Ahead?

How will the Federal Reserve in 2026 impact the crypto industry?

Shifting from the technocratic caution of the Powell era, the policy framework is moving towards a more explicit goal of reducing borrowing costs and serving the president's economic agenda.

BlockBeats2025/12/03 16:23
How will the Federal Reserve in 2026 impact the crypto industry?
© 2025 Bitget