After Ethereum completed the Shanghai upgrade in mid-April, validators were able to withdraw the long-staked ETH from the beacon chain. Ethereum developers then began preparing for the next major upgrade, the Dencun upgrade. The main proposal EIP-4844 in the Cancun upgrade will make the Ethereum network more scalable, and some of the upgrade content can also further reduce transaction fees and network congestion.
Although the rise is difficult to predict, we can judge whether it has reached the peak when the peak signal appears. With the upgraded materials in Cancun, the main players with foresight have already made arrangements in advance and are waiting for the moment of harvest. Retail investors are more waiting for the official announcement of good news, which is obviously different in nature.
Our strategy is to judge the intentions of the main force, build positions with the main force, and then leave the market in time before the main force starts selling, so that we can better grasp the changes in the market.
Ethereum and Layer2 rose on the news
After the news came out, Ethereum and Layer 2 tokens generally rose.
A review of Ethereum's historical upgrades
Ethereum is positioned as a world computer. To achieve this goal, Vitalik planned an upgrade roadmap for Ethereum at the beginning of its birth, which are: Frontier, Homestead, Metropolis, Serenity.
At present, Ethereum has gone through the first two stages and part of the third stage, and has experienced 24 milestone events, most of which are fork upgrades. The more important ones are:
● 2015.7.30, Frontier Upgrade. Ethereum released its first barebones version (Beta version) for developers. At this time, Ethereum was like the development of the American West, full of huge risks and opportunities.
● 2016.3.14, Homeland Upgrade. Ethereum released its second major version. At this time, the first batch of “gold diggers” had completed the development of the “border” and entered the stage of homeland construction and living and working in peace and contentment.
● On July 20, 2016, The DAO was attacked, triggering a hard fork. This was not a normal upgrade, but a compromise that Ethereum was forced to make in its darkest hour, which led to the separation of the ETH and ETC chains.
● 2017.10.16, Byzantium upgrade. The "Metropolis" upgrade has a lot of content. It was originally planned to be split into two upgrades, Byzantium and Constantinople. Later, it was split into Istanbul, Berlin, London, etc. upgrades.
● 2019.2.28, Constantinople/Saint Petersburg upgrade. The originally planned Constantinople upgrade was postponed due to a security vulnerability. Two years later, Ethereum simultaneously carried out two upgrades, namely Constantinople and Saint Petersburg.
● 2020.1.2, Muir Glacier upgrade. Due to an error in estimating the "explosion" time of the mining difficulty bomb, it may "explode" ahead of time, so an emergency temporary upgrade was carried out.
● 2021.4.15, Berlin upgrade. This was the first upgrade named after the city where the Ethereum Developer Conference (Devcon) was held, and the tradition has continued since then.
● 2021.8.5, London Upgrade. EIP-1559, which has a far-reaching impact on Ethereum, was released, allowing part of the gas fee to be burned.
● 2022.9.15, Paris Upgrade (The Merge). Ethereum officially completed the transition from Pow to PoS consensus.
● 2023.4.12, Shanghai upgrade. Mainly solved the withdrawal problem of ETH pledge.
●Cancun upgrade is expected to be launched in January, focusing on solving Ethereum expansion issues
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