🆕Ethereum Updates: Dencun Testnet Dates, Exit Queue Spikes, ETF Speculation

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There is lots of fresh action in the Ethereum ecosystem, with Ethereum’s core developers confirming testnet deployment dates for its upcoming Dencun upgrade. Plus, Ethereum's staking exit queue spiked after Celsius confirmed it will unstake its Ether, and speculation that a spot Ether ETF will receive regulatory approval later this year is running rampant.

In other news, institutional crypto products enjoyed their third-strongest yearly inflows during 2023, with BTC accounting for 84.5% of the total.

✍️ In today’s newsletter:

  • Dencun testnet dates confirmed
  • Celsius offboarding drives record staking exit queue
  • Institutional crypto products took in $2.25B last year


📈 Markets in last 24 hrs:

BTC$42,822 -4.83%
ETH$2,211 -6.34%
S&P 500$4,689 -0.34%
GOLD$2,042 0.4%
Arch WEB31.28pts +2.99%
FINANCE1.21pts 2.57%
INFRA1.41pts 3.1%
CONSUMER1.46pts 4.02%
Arch WEB3

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Check out our video exploring Turkiye's booming web3 sector. And watch our podcast with Illia Polosukhin, the co-founder of Near Protocol.


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Ethereum Developers Confirm Dencun Testnet Dates, Look To Following ‘Pectra’ Upgrade

TLDR Ethereum's core developers have confirmed dates for Dencun's testnet deployments. Ethereum's next major upgrade will first go live on Goerli on Jan. 17, before deployments on Sepolia and Holesky on Jan. 30 and Feb. 7 respectively.

SO WHAT Dencun will reduce the fees on Layer 2 by replacing gas-intensive calldata with blobs, also improving data availability in the process. Ethereum's developers are increasingly turning their attention to the network's following "Pectra" upgrade, which will focus on bolstering decentralization through the introduction of Verkle Trees.

READ MORE: Ethereum Developers Confirm Dencun Testnet Dates, Look To Following ‘Pectra’ Upgrade


Ethereum’s Exit Queue Jumps To Record High As Celsius Unstakes

TLDR The queue for validators offboarding Ethereum has surged to a record high of nearly 16,300, beating out the previous top by 325% and equating to a more than five-day wait. The spike appears to have been triggered by Celsius moving to unstake all of its ETH in preparation for creditor distributions.

SO WHAT Data from Arkham Intelligence suggests Celsius holds $227M worth of Ether, despite reportedly selling $243M over the past 30 days. Despite the heavy selling, analysts are bullish that ETH may rally on spot ETF anticipation.

READ MORE: Ethereum’s Exit Queue Jumps To Record High As Celsius Unstakes


Institutional Investors Piled Into Bitcoin In 2023

TLDR Institutional crypto products took in $2.25B during 2023, their third-strongest year on record.

SO WHAT The bullish performance was propelled by spot Bitcoin ETF speculation, with $1.5B worth of inflows going to products offering exposure to BTC. Two-thirds of the annual inflows were received during the fourth quarter.

READ MORE: Institutional Investors Piled Into Bitcoin In 2023


Linea's Journey Towards Progressive Decentralization: The Key to Minimizing Trust with Zero-Knowledge Technology

TLDR Declan Fox, the senior product manager for Linea at Consensys, delivers a call to action for rollup providers to outline plans for progressive decentralization and trust minimization. Fox also argues that zero-knowledge solutions are best poised to facilitate decentralized security.

SO WHAT Competition to scale Ethereum is heating up, with a new generation of zero-knowledge rollups seeking to dethrone the incumbent optimistic rollups in Arbitrum and Optimism.

Read More: Linea's Journey Towards Progressive Decentralization: The Key To Minimizing Trust With Zero-Knowledge Technology



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