BlackRock Tokenizes Fund for Accredited Investors on Ethereum Blockchain; Ethereum Layer 2 Adoption Trends High Post-Dencun Upgrade
The highly anticipated Dencun fork on Ethereum's network, implemented on March 13, has spurred a surge in adoption of Layer 2 solutions. Following the upgrade, active addresses and transaction volumes are approaching all-time highs, indicating growing confidence in the scalability improvements brought about by the fork. Notably, daily Layer 2 throughput reached its second-highest level on record just days after Dencun's execution, with transaction counts doubling on leading networks supporting the upgrade's key features.
Moreover, the reduced fees on Layer 2 networks, down by over 80% post-Dencun, have led to a significant migration of on-chain traders from the Ethereum mainnet. This shift comes amidst persistently high transaction fees on Ethereum, contributing to an increase in ETH burn-rate. Additionally, Ethereum Foundation's Tim Beiko has issued a "final announcement" urging testnet users to transition to Sepolia or Holesky as the long-standing Goerli network is set to be deprecated on March 18, highlighting the ongoing evolution within the Ethereum ecosystem.
