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Starknet Gas Fees Plummet 99% After Successful Dencun Upgrade

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Starknet Gas Fees Plummet 99% After Successful Dencun Upgrade

starknet

Key Points:

  • Starknet has successfully synchronized with Ethereum’s Dencun upgrade, leading to a 99% decrease in gas fees.
  • Ethereum’s Dencun upgrade introduces a new way of storing data expected to spur increased activity and attract more applications.
  • Ethereum’s Dencun upgrade slashs Starknet gas fees by 99% from $2 to $0.01-0.04. The upgrade boosted Starknet by 10%, attracting more apps.
    Starknet, a layer-2 (L2) network, has successfully synchronized with Ethereum’s Dencun upgrade, leading to a significant reduction in gas fees.

Starknet gas fees plummet: Dencun upgrade delivers 99% reduction
Previously, a single gas transaction on Starknet cost around $2, but the upgrade has led to a drop to about $0.01-0.04, marking a 99% decrease.

Starknet Gas Fees Plummet 99% After Successful Dencun Upgrade

 

 

 

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Before the upgrade, Starknet was experiencing a downturn, but once the upgrade was activated, it saw an almost 10% rise, wiping out earlier losses. In a recent update, Starknet was 6% higher over a 24-hour period. The network has already submitted its first batch of data that benefits from Dencun’s reduced fees.

Ethereum’s Dencun upgrade has been hailed as the biggest milestone for the ecosystem in nearly a year. The upgrade has introduced a new way of storing data on the notoriously congested blockchain and is expected to cut transaction costs on L2 networks to just a few cents.

 

Impact of Dencun Upgrade on Other Cryptocurrencies

As a result, Starknet and other L2 networks are anticipated to attract more applications and spur increased activity.

In addition to Starknet, other cryptocurrencies adjacent to the Ethereum network have also experienced mixed performance following the Dencun upgrade. Notably, the native tokens of Polygon and Arbitrum saw increases of 8%-10% before the upgrade, with a slight retraction once the upgrade was activated.

 

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