Bitcoin marks a new ATH as Dencun arrives on Ethereum

The Dencun update will be activated today on Ethereum. This morning, the Bitcoin rate (BTC) reached a new price record over 73,000 dollars.

The price of Bitcoin (BTC) continues to climb, reaching a new ATH this Wednesday morning at over $73,000. At the time of writing, the price has retreated slightly to around $72,900, still up 1.2% over 24 hours.

#Bitcoin 73 000$ 📈 pic.twitter.com/TFtPgiNFMd

– RoyalsBlue.com – News Crypto, Web3 & NFT (@coins_fr) March 13, 2024

Meanwhile, the price of Ethereum (ETH) has returned to the $4,000 level as the runner-up on the crypto market prepares for a hard fork.

This afternoon, around 3 p.m., Dencun will be activated on Ethereum. The main aim of the update is to lower costs, particularly on Layer 2 solutions such as Arbitrum, Optimism and Polygon, thanks to EIP 4844 (proto-danksharding).

D-1 🚨 The update #Dencun will be deployed on the mainnet #Ethereum tomorrow around 3pm. pic.twitter.com/yeW9GLmuY7

– RoyalsBlue.com – News Crypto, Web3 & NFT (@coins_fr) March 12, 2024

Also known as Cancun or Deneb, the update includes 8 other proposed enhancements, including EIP 6780 to modify the functionality of the SELFDESTRUCT opcode, and EIP 1153, which will offer “transient storage” on Ethereum. It had previously been deployed on its various testnets.

“Dencun is the combination of Deneb, a first-magnitude star in the constellation Cygnus, and Cancun, the location of Devcon 3,” says the Ethereum Foundation on its blog.

The hard fork follows last year’s Shapella update and marks the start of “The Surge” era of the roadmap for the second-largest L1 blockchain on the market. Users and holders of ethers have no specific action to take.

[Dencun] is a way of moving more and more transaction activity off the main Ethereum network, decongesting it and then offering lower costs to users,” explained Tim Beiko, a well-known Ethereum developer.

Keep up to date with all the latest crypto news on our Twitter or Telegram