The cryptocurrency world transforms significantly as Ethereum prepares for its highly anticipated Dencun update. Guy Turner, a respected crypto analyst and Coin Bureau YouTube channel host, has chimed in on the potential growth of Ethereum’s Layer-2 projects in light of this upcoming update. The Dencun upgrade, scheduled for March, aims to improve transactions and reduce costs for layer-2 transactions on the Ethereum network.
Turner’s Layer-2’s Front-Runners
In his latest YouTube video, Turner disclosed his bullish take on layer-2 projects and why they should be the hot pick in this bull cycle. The projects are expected to boom with the Duncan upgrade.
Let’s delve deeper into the four Layer-2 projects highlighted by Guy Turner:
- Arbitrum (ARB): First up on the list is, Arbitrum hit a record $2.40 ahead of Ethereum’s Dencun release. This improvement should speed up and lower the cost of layer-2 Ethereum transactions. Turner predicts that these upgrades will make Arbitrum a cheaper Ethereum alternative, attracting more users. Arbitrum’s growth potential remains strong despite a recent price drop to $1.83.
- Optimism (OP): Next comes, Optimism (OP) a project focussing on building a “superchain” ecosystem that fosters collaboration across various layer-2 scaling solutions. Turner noted Optimism’s partnership with Coinbase’s layer-2 solution, Base, as a significant development that could drive the adoption of the superchain concept. While Optimism is currently trading at $3.68, down over 9% in the past 24 hours, its long-term potential as a key player in Ethereum’s layer-2 ecosystem is noteworthy.
- Immutable X (IMX): Immutable X has been in the news and is an excellent pick for this summer rally. Turner predicts a boom in blockchain game development as network performance improves in GameFi. As more gaming developers seek suitable launch conditions, Immutable X stands out owing to its scalability and efficiency. Though it fell to $3.33, yet Immutable X’s potential to attract game developers and consumers remains high.
- Polygon (MATIC): Last but not least comes, Polygon, with its upcoming network upgrade called Polygon 2.0, which is expected to see a surge shortly. While MATIC has experienced a downturn in price, trading at $0.93 with a nearly 9% decrease in the last 24 hours, Turner remains bullish about its growth potential.
However, analysts like Ali Martinez also suggest that if Polygon can maintain key support levels, it could rally significantly, with a potential target of $1.73. Plus, Polygon’s focus on scalability and interoperability makes it an attractive choice for developers and users seeking efficient solutions on the Ethereum network.
Overall, these 4 Layer-2 projects represent exciting opportunities within the crypto space, poised to capitalize on Ethereum’s Dencun update and drive innovation in blockchain technology.