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The host and crypto analyst of the crypto-focused YouTube channel Coin Bureau, Guy Turner, told his subscribers in his latest strategy session that he expects a significant rise in Ethereum (ETH) Layer-2 projects. The analyst listed the altcoins he anticipates will surge following Ethereum’s upcoming Dencun update.
Layer-2 Altcoins Under the Spotlight
Turner stated that he expects a major rally in Layer-2 projects following the Dencun update planned to be implemented on the Ethereum mainnet in March. The Dencun update aims to reduce costs for Layer-2 transactions and increase data availability on the leading smart contract platform, making it a significant factor for the ecosystem.
According to the analyst, one of the Layer-2 altcoins with high earning potential is Arbitrum (ARB). Turner mentioned that ARB recently reached an all-time high of $2.40 on January 12th and could continue its upward trajectory due to the anticipated effects of the Dencun update. As the update is expected to improve Layer-2 transaction speeds and reduce costs, more users may turn to Arbitrum as a cheaper alternative for interacting with Ethereum.
Turner also suggested that Optimism (OP) has significant upside potential. Optimism aims to create a “superchain” ecosystem that promotes collaboration among multiple Layer-2 scaling solutions. Turner mentioned Coinbase’s Layer-2 solution Base as one of the first entrants into this ecosystem and expects rapid development following the implementation of the Dencun update on the Ethereum network.
Immutable X (IMX) stands out as another Layer-2 scaling solution on Turner’s radar, particularly for its potential in the GameFi sector. The analyst expects that as network efficiency increases, Immutable will see growth in blockchain-based game development. As a significant player in the GameFi narrative, Immutable could attract more game developers looking for the best platform to launch their products.
Polygon’s MATIC Also on the Radar
Finally, Turner underscored that Polygon‘s (MATIC) is a high-potential Layer-2 altcoin, especially with the planned network upgrade known as Polygon 2.0. According to the analyst, MATIC could make a significant move with both the Dencun update and the Polygon 2.0 upgrade.
Despite a significant drop from its all-time high of $2.92 in December 2021, the analyst expects MATIC’s fortunes to change with the implementation of Polygon 2.0.
