{"id":254240,"date":"2024-02-26T13:51:44","date_gmt":"2024-02-26T08:21:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/layer-2-defi-tokens-rally-begins-mantle-mnt-surges-20-crypto-news\/"},"modified":"2024-02-26T13:51:48","modified_gmt":"2024-02-26T08:21:48","slug":"layer-2-defi-tokens-rally-begins-mantle-mnt-surges-20-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/layer-2-defi-tokens-rally-begins-mantle-mnt-surges-20-crypto-news\/","title":{"rendered":"Layer 2 DeFi Tokens Rally Begins, Mantle (MNT) Surges 20 – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Layer-2 DeFi platforms on the Ethereum blockchain network have shown strong network activity over the last week leading to a strong price rally in DeFi tokens. This comes as Ethereum gears for the Dencun upgrade<\/a> which will bring major improvements in terms of network security, scalability, and functionality.<\/p>\n

DeFi Tokens Rally Begins<\/h3>\n

After the Unsiwap announcement last week, Defi tokens have stoled the limelight from AI tokens, especially the ones associated with the Ethereum Layer-2 scalability platform. some of the top DeFi tokens<\/a> witnessing strong price surges and trading activity include $UNI, $COMP, $COTI<\/a>, $SUSHI, and $AAVE.<\/p>\n

<\/p>\n

Joining the bandwagon recently is Mantle (MNT) registering 20% gains in the last 24 hours. As of press time, Mantle is trading at $0.95 with a market cap of over $3 billion, and 24-hour trading volumes surging by 200% to over $175 million.<\/p>\n

One of the major things about the Mantle Network is that it aims for compatibility with the Ethereum Virtual Machine (EVM). Its modular architecture divides transaction execution, data availability, and transaction finality into separate modules, allowing for individual upgrades and integration of the latest advancements.<\/p>\n

<\/p>\n

With Mantle (MNT) witnessing substantial expansion, it has amassed over $1.5 billion worth of Ethereum staked as mETH (Mantle Staked ETH). Consequently, it plans to provide enticing airdrops for mETH stakers.<\/p>\n

<\/p>\n

How Ethereum Dencun Upgrade Benefits L2s?<\/h3>\n

The Dencun upgrade, a pivotal component of Ethereum\u2019s ambitious initiative \u201cThe Surge,\u201d brings forth a series of Ethereum Improvement Proposals (EIPs) aimed at enhancing the network\u2019s efficiency and functionality. Of notable significance is EIP-4844, which introduces Proto-Danksharding, a groundbreaking advancement for Ethereum\u2019s scalability.<\/p>\n

A key highlight of EIP-4844 is the introduction of \u201cblob-carrying transactions,\u201d a novel transaction type that notably reduces transaction costs for users on Layer-2 (L2) networks, consequently boosting Ethereum\u2019s transaction throughput.<\/p>\n

<\/p>\n

This substantial reduction in fees on Ethereum Layer-2s is anticipated to mark a significant milestone in gas fee reduction, rendering L2 chains an appealing option for both decentralized application (dApp) developers and users. As a result, the Layer-2s are positioned to surpass alternative Layer-1 solutions in terms of attractiveness and adoption.<\/p>\n

The ramifications of the Dencun upgrade resonate across the entire Ethereum ecosystem, impacting decentralized finance (DeFi) applications, gaming platforms, and various other sectors.<\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<\/p>\n

\n
\n
\n
\n
\n<\/p>\n

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

\n \"\"