Ethereum Dencun upgrade could go live on mainnet as early as March 2024

Source Fxstreet
  • Ethereum developers discussed the Dencun upgrade’s activation on the Goerli testnet in their All Core Developers Execution Call. 
  • Developers confirmed the timeline for the Dencun upgrade’s rollout on Sepolia and Holesky testnets. 
  • Ethereum Dencun upgrade is likely to see its mainnet release in March, despite a lack of Layer 2 readiness. 

Ethereum core developers are committed to the Dencun upgrade’s testnet timelines. Despite the issues that arose on the Goerli testnet, the timeline has remained unchanged for Sepolia and Holesky testnet release of the upgrade. 

Core developers picked 30 January for Sepolia and 7 February for Holesky rollout of the Dencun upgrade. 

Also read: Lido DAO Community Staking Module to make mainnet debut in the second half of 2024

Ethereum developers set fixed timelines for Dencun upgrade

Ethereum developers stayed committed to the Dencun testnet timeline, according to the All Core Developers Execution call number 179. The timeline for testing remains unchanged and Galaxy Digital’s Christine Kim believes the likelihood of mainnet activation for the upgrade by the end of March is now 60%. 

Layer 2 chains are not currently ready for the upgrade, however, developers are moving ahead with the testnet releases in the next three weeks. It is likely that Dencun goes live on mainnet as early as February if the upgrades on Sepolia and Holesky do not encounter issues. 

Developers are likely to run additional tests and Layer 2 chains may want to perform client releases on Sepolia and Holesky before the mainnet upgrade. If this occurs, then the likelihood of mainnet release in February is limited to 30%.  

The implementation of EIP-4844 is expected to boost the features of Ethereum and drive adoption of the chain.

ETH

Expected Impacts of EIP 4844. Source: Galaxy Research

If major bugs are discovered in either of the two testnets, Dencun’s arrival on the mainnet could be delayed from March to April. 

Key dates to watch out for are January 30 and February 7, dates for the Sepolia and Holesky forks.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD retraces gains and nears two-month lows at $4,104Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and resumes its broader bearish trend, with the US Dollar (USD) appreciating across the board, as investors brace for the release of the minutes of the latest Federal Reserve (Fed) meeting.
Author  FXStreet
8 hours ago
Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and resumes its broader bearish trend, with the US Dollar (USD) appreciating across the board, as investors brace for the release of the minutes of the latest Federal Reserve (Fed) meeting.
placeholder
WTI rises to near $89.50 as Middle East supply threats offset Persian Gulf recoveryWest Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.
Author  FXStreet
17 hours ago
West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.
placeholder
AUD/USD Price Forecast: Struggles to return to 0.7000 amid firm US DollarThe Australian Dollar (AUD) gives back its early gains after rising to near 0.6975 and turns marginally lower at around 0.6964 against the US Dollar (USD) during the European trading session on Tuesday.
Author  FXStreet
Yesterday 08: 58
The Australian Dollar (AUD) gives back its early gains after rising to near 0.6975 and turns marginally lower at around 0.6964 against the US Dollar (USD) during the European trading session on Tuesday.
placeholder
Japanese Yen drifts lower as sustained USD buying offsets intervention fearsThe USD/JPY pair attracts some buyers following the previous day's two-day price moves, trading above the 158.00 mark during the early part of the European session on Tuesday.
Author  FXStreet
Yesterday 07: 53
The USD/JPY pair attracts some buyers following the previous day's two-day price moves, trading above the 158.00 mark during the early part of the European session on Tuesday.
placeholder
Gold holds steady below $4,150 amid elevated US yields Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.
Author  FXStreet
Yesterday 01: 14
Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.
Related Instrument
goTop
quote