Guy Turner, host of the Coin Bureau YouTube channel, expressed optimism about the Ethereum (ETH) layer 2 project.
In a new strategy session, Turner told his channel’s 2.41 million subscribers that ETH’s Dencun update could spark a massive rally for layer 2 projects and picked his top four.
The Dencun upgrade, scheduled to be released in March, aims to reduce Layer 2 transaction and data availability costs on leading smart contract platforms.
Turner says:
“With the Dencun upgrade getting closer, Ethereum’s Layer 2 is about to take off.”
First, the trader said that Arbitrum (ARB) could maintain its upward momentum.
“ARB recently hit an all-time high of $2.40 on January 12th and has shown no signs of slowing down significantly due to the expected effects of Dencun. This is because Dencun’s impact on layer 2 transaction speeds and costs will lead more and more people to adopt Arbitrum as a much cheaper way to interact with Ethereum.”
Arbitrum is trading at $1.83 at the time of writing, down 6% in the last 24 hours.
Next, traders say Optimism (OP) has a lot of upside potential due to its goal of building a “superchain” ecosystem that fosters collaboration across multiple layer 2 scaling solutions.
“One of the first players to enter the ‘superchain’ ecosystem was none other than Coinbase’s own layer 2 solution, Base…
This superchain could quickly become a reality after Dencun.”
Bullish is trading at $3.68 at the time of writing, down more than 9% in the last 24 hours.
Another scaling solution that traders are paying attention to is Immutable X (IMX). He believes this solution could become more popular in the GameFi industry.
“Immutable can rapidly accelerate blockchain game development as network efficiency is strengthened. “As Immutable establishes itself as a big player in the GameFi narrative, more game developers will turn their attention to the best environment to launch their products, and Immutable will be a top contender in that regard.”
Immutable is trading at $3.33 at the time of this writing, down more than 5% in the last 24 hours.
Lastly, the trader says Polygon (MATIC) could see an increase in value due to its own network upgrade plan called Polygon 2.0.
“MATIC hit an all-time high of $2.92 on December 27, 2021. At the time of filming, it was still 66% below this price point. But in 2.0, all this may change.”
MATIC is trading at $0.93, down nearly 9% in the last 24 hours.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney