ECONOMIC PULSE
How Are Ethereum “Blobs” Powering The Next Wave of Layer 2 Adoption?
The Dencun upgrade earlier this year introduced enhancements that streamlined the bundling and posting of transactions from Layer 2 solutions to the Ethereum blockchain
I have strongly believed in Ethereum’s (ETH) potential since its inception nearly a decade ago. As the second-largest blockchain powering smart contracts, Ethereum has made significant strides, supporting numerous use cases and serving as a foundation for countless innovations. However, on the trading front, ETH has recently lagged behind, with Bitcoin consistently reaching all-time highs. This cyclical dynamic, however, might be on the verge of shifting.
Just like other financial markets, rotation takes place in Cryptoverse too. After an extended downtrend compared to Bitcoin (BTC), Ether (ETH) is showing signs of recovery. Ether surged over 4% yesterday, while BTC declined 1.5%, falling below $95,000 during Monday’s session. ETH also outperformed the broader CoinDesk 20 Index, which rose by 0.5%. At the time of writing, ETH’s daily gains stand at 7.47%, compared to BTC’s 2.56%.
