Ethereum Layer 2 Tokens See Increased Interest Ahead of Dencun Upgrade

• Ethereum sidechain Gnosis Chain completed its Dencun upgrade on March 11th and can now send blobs .
• Traders eye Layer 2 tokens such as Arbitrum (ARB), Optimism (OP), Lido DAO (LDO), and Metis after expected drop in gas fees on their respective L2s.
• The Dencun upgrade adopts proto-danksharding, increasing scalability and reducing gas fees. 

Earlier today, Gnosis announced that the Dencun upgrade is live on Gnosis mainnet. Ether’s (ETH) price is hovering above $4,000, fueled by anticipation surrounding the upcoming Dencun upgrade. With the upgrade set for Wednesday, March 13th the interest in Ethereum Layer 2 (L2) tokens in particular is surging.

The Dencun upgrade has been activated on the @gnosischain mainnet!



Next Ethereum Mainnet pic.twitter.com/S6GKhfe3TX

— Gnosis Chain (@gnosischain) March 11, 2024

The Dencun upgrade, which will adopt proto-dank sharding, is expected to make Ethereum more efficient and secure by scaling the network. This is likely why there is increased interest in Ethereum Layer 2 tokens, which are tokens that are built on top of the Ethereum blockchain but that process transactions on a separate layer. 

Crypto analyst Mike De…

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