The next significant statement on the Dencun update has been issued by Ethereum developers. This was shared on X by Ethereum core developer Tim Beiko.
Beiko reports that Dencun will activate on the Sepolia testnet on January 30 and the Holesky testnet on February 7, bringing with it more testnet blobs. On both networks, he exhorts node operators to upgrade. Beiko continues by saying that Ethereum Dencun will be scheduled on the Ethereum mainnet after that, if both of these proceed without a hitch.
https://x.com/TimBeiko/status/1750344001641947256?s=20
Goerli blobs were just introduced on January 17, 2024, when Dencun went online on the Goerli testnet at 6:32 a.m. UTC. Over the following two weeks, updates will be made to the Sepolia and Holesky testnets. Dencun is scheduled to come online on Jan. 30 at 10:51 p.m. UTC on Sepolia at epoch 132608 and on Feb. 7 at 11:35 a.m. UTC on Holesky at epoch 29696.
After the Shapella improvement last year, the much awaited Dencun release brings modifications to Ethereum’s consensus and execution levels.
The most significant modification in the update is the use of EIP-4844 for ephemeral data blobs, or “protodanksharding,” which will reduce L2 transaction costs.
Ethereum momentum to pick up in weeks
Crypto expert Michael Van de Poppe believes that momentum for ETH may develop in the upcoming weeks. He makes three claims: The bottoming out of Bitcoin may serve as a spark for cryptocurrencies to start rising again. The Ethereum Spot ETF’s recent hype is the second explanation. Third, Ethereum intends to roll out additional updates that should result in a 90% reduction in transaction costs.
Glassnode reports that in January 2022, BTC perpetual swaps made up 55% of open interest; this percentage has now risen to 66.2%. However, between 2022 and 2024, ETH’s open interest dominance decreased from 45% to 33.8%.
However, ETH gained some market share when the ETF was approved, and this measure increased its dominance to much above 40%.
