Bittime - Bullish pundits and optimistic crypto market observers enthusiastically welcomed the latest upgrade announced for the Ethereum network . This good news is accompanied by increasing demand for the Tron and Kangamoon crypto assets.
The latest upgrade to Ethereum, known as Ethereum Dencun , has become a major highlight in the crypto community.
Quoted from Coinpedia , experts assess that this upgrade is expected to improve the performance and efficiency of the Ethereum network, as well as overcome the scalability problems that the platform has long faced.
What is Ethereum Dencun?
Ethereum Dencun, also known as Cancun-Deneb, is a major network update scheduled for completion in mid-March 2024. Its main goal is to improve the scalability, efficiency, and security of the Ethereum network.
The following are some key points about Dencun:
- Combining two smaller updates: Dencun actually combines two smaller updates, Cancun and Deneb.
- EIP-4844 and proto-danksharding: Dencun introduced the concept of "proto-danksharding", outlined in Ethereum Improvement Proposal (EIP) 4844. It aims to significantly increase the network's transaction throughput, potentially reducing Layer 2 (L2) transaction fees.
- Expected impact: Dencun is expected to have a broad positive impact on the Ethereum network, making it more efficient to use and potentially attracting new users and developers.
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Important aspects of the Ethereum Dencun Upgrade
One important aspect of this upgrade is increased transaction capacity, which is expected to reduce transaction costs and increase processing speed. With these improvements, Ethereum users can expect a better experience when conducting transactions on the network.
Apart from that, demand for Tron and Kangamoon crypto assets also experienced a significant spike. Tron, known for its focus on the entertainment industry and digital content, has attracted the interest of many investors with its broad ecosystem development potential.
Meanwhile, Kangamoon, a crypto project targeting the fast-growing market share in Asia, has also received great attention from market players.
With the various features and innovative solutions it offers, Kangamoon is an attractive choice for investors looking for opportunities in the growing crypto market.
Overall, the mood in the crypto market is currently filled with optimism and enthusiasm, especially with positive developments such as Ethereum upgrades and surging demand for projects like Tron and Kangamoon.
Also Read How to Buy Crypto:
Demand for Tron Network (TRX) Increasing?
The total value locked (TVL) in the Tron Network (TRX) has experienced a significant increase in recent times. Hit a new record high above $9.5 billion.
There are several factors that play a role in making Tron one of the DeFi projects. This is important due to the efficiency of the Tron Network and low fees when used to settle stablecoin transactions.
According to data presented by Artemis , fees and revenues within the Tron Network have increased by 119% since the start of this year (YTD). Additionally, IntoTheBlock also reported via Twitter that the number of non-zero balances in the Tron Network has increased to over 95 million, outperforming even Cardano and Avalanche.
Another reason for the surge in demand for Tron is the stability of the TRX coin itself. With minimal volatility, the price of this altcoin has increased by 31% year over year. TRX has managed to stay above the $0.14 support level and is likely to head towards the $0.20 level in the coming months.
Also read: BEFE: The Meme Coin that is Taking the Crypto World by Storm and Creating New Millionaires
Demand for KangaMoon (KANG) Increases Thanks to Unique Rewards Model?
As with Tron, demand for KangaMoon (KANG) has peaked in recent weeks following the launch of a unique rewards model based on the Social-Fi concept.
This demand has been reflected in the impressive success of KangaMoon's crypto ICO, with the project raising over $600,000 in just a few weeks after its launch.
There is a lot of talk about Social-Fi as KangaMoon plans to reward users based on their participation in the network. From simple tasks such as interacting with posts on various KangaMoon social media accounts to participating in weekly and monthly events, users have the opportunity to earn KANG tokens for free.
The team behind the KangaMoon project has allocated 10% of the total KANG token supply of 1 billion to reward token holders. With this unique Social-Fi model and attractive rewards, KangaMoon hopes to become the most active network for meme coin fans in the future.
Like other altcoins on the market, KangaMoon is also experiencing a significant upward trend, with an increase of 125% when it entered the third phase of the crypto ICO stage.
Although KANG's value currently stands at around $0.0075 per coin, crypto experts predict a potential upside of up to 220% this March, given its unique model and connection to the meme coin market.
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How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Ethereum History Story: How Ethereum Became Popular
What is Ethereum (ETH) 2.0 and how is it different from Ethereum
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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