Layer 2 Cryptocurrencies Show Mixed Performance Following Ethereum's Dencun Upgrade

According to CoinDesk, layer 2 cryptocurrencies displayed a mixed performance as the Ethereum blockchain's Dencun upgrade went live. Tokens of Polygon, Arbitrum, and Starknet experienced gains, while Immutable X and Celo declined. The Dencun upgrade, which is considered the biggest milestone for the ecosystem in almost a year, introduced a new way of storing data on the congested blockchain. This change was expected to reduce transaction costs on layer-2 networks to a few cents and spur activity and attract more applications.