CAKE - Bitcoin Ethereum Dogecoin Trade Mixed As ETH Finalizes 'Dencun' Upgrade: Analyst Warns Of Potential 'Liquidity Crisis' For King Crypto | Benzinga
Major cryptocurrencies traded mixed on Wednesday evening as Ethereum, the second-largest cryptocurrency, concluded the ‘Duncun’ upgrade.
What Happened: The Dencun upgrade, described as a hard fork in blockchain terminology, was implemented at 9:55 a.m. EDT on Wednesday. This upgrade aims to stimulate expansion on layer-2 networks such as Arbitrum and Polygon by lowering their data fees.
It should be noted that the upgrade did not have any price impact on Bitcoin.
On Wednesday, BTC reached a new all-time high of over $73,600 per coin. The surge can be attributed to the ongoing prosperity of spot BTC ETFs, experiencing unprecedented inflows due to escalating interest from conventional investors.
Meanwhile, MicroStrategy aims to secure an additional $500 million through a bond offering, in line with its strategy to expand its Bitcoin holdings. This comes shortly after the successful completion of a comparable debt sale, as stated in a March 13 press release.
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