ETH price surge expected due to Denkun upgrade
);)
Buterin, who appeared on a panel discussion on the 19th at the world's largest blockchain event, Singapore Token 2049, pointed out the reduction in Ethereum's gas fees due to the 'Denkun upgrade'.
He emphasized that "gas fees on the Ethereum network have reached almost zero, which means that Ethereum has reached a critical point."
Earlier this March, Ethereum announced the success of the Denkun upgrade, which significantly reduced fees for Ethereum-based layer 2 networks. The Denkun upgrade reduced gas fees for Ethereum-based layer 2 networks by up to six times.
Ryan Lee, a researcher at Bitget Research, predicted a bull market for Ethereum (ETH) last month due to the success of the Denkun upgrade and the resulting decrease in Ethereum gas fees. “Each time Ethereum’s gas fees hit rock bottom, the price of Ethereum has bottomed out and then rebounded,” Lee wrote in a report published in August. “If the current assumption that Ethereum’s gas fees have hit rock bottom coincides with the interest rate cut cycle, Ethereum will see a dramatic rally.”
As if he was aware of this, Buterin predicted a decrease in Ethereum's gas fees and the resulting surge in Ethereum's price.
Meanwhile, blockchain specialized economic media Blockstreet will join Singapore Token 2049, which will be held from the 18th to the 19th, as an official media partner and will participate in various side events of the event, including the main event held over two days, to deliver vivid on-site news.
Reporter Kwon Seung-won ksw@
