Ethereum's Cancun Upgrade Sparks Optimism

The Ethereum Cancun Upgrade (Dencun) was officially activated on the mainnet at 21:55 on March 13, 2024. The market believes that this may be a boost to the rise of Ethereum and Layer 2 tokens.The currency circle fluctuated violently today, but Ethereum rebounded strongly and once again set a new high this year. Layer 2 tokens also had strong gains. OP and STRK did not fall but rose. With the Ethereum Cancun upgrade approaching, Layer 2 may become the next market hot spot.The core of the Cancun upgrade is EIP-4844, also known as "proto-danksharding". It is the first step to achieve Ethereum expansion. It introduces a new transaction type (blob carrying transaction). EIP-4844 borrows By providing more space for data "blobs" to expand the blockchain, the temporary storage and search of off-chain data can be achieved through Ethereum nodes, thereby reducing the transaction costs of the Layer 2 network.The current total locked-up volume (TVL) of Ethereum Layer 2 has climbed to US$36.74 billion, continuing to set new highs, with a 7-day increase of 14.8%.The top five Layer 2 lock-ups are:Arbitrum One: US$15.3 billion, a 7-day increase of 12.73%OP Mainnet: US$9 billion, a 7-day increase of 20.09%Blast: US$2.68 billion, a 7-day increase of 29.51%Manta Pacific: US$2.08 billion, a 7-day increase of 9.6%Starknet: US$1.63 billion, an increase of 22.16% on the 7th.

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