Ethereum ecosystem activity increases, Dencun upgrade brings positive impact

According to TechFlow, there has been a noticeable increase in network activity in the Ethereum ecosystem. Data from Dune Analytics shows that excluding addresses associated with Ordinals, there are more than 10 million wallets actively using the mainnet and Ethereum second-layer solutions such as Base, Optimism, and Arbitrum. This milestone is a direct result of the successful implementation of the Dencun upgrade in mid-March 2024.

This upgrade is one of many Ethereum upgrades that effectively solves pressing challenges, especially those related to scalability and gas fees. This surge will be accelerated by the enhancements brought by Dencun, which makes it cheaper for those using rollups to conduct second-layer transactions.

Despite these advances, challenges remain. Ethereum is fragile and cannot scale effectively when usage surges. Therefore, in the next bull run, especially when Ethereum prices rebound and break through $4,000 and historical highs, gas fees are very likely to rise.