With the price of Ether (ETH) soaring, two industry veterans gave contrasting views on the implications of this much-anticipated update, just days before Dencun is set to deploy on Ethereum's mainnet.

For the first time since late 2021, at the height of the previous bull cycle, ETH crossed $4,000 thanks to the excitement and euphoria surrounding the cryptocurrency market, sending it to yet another two-year high.
 

Wormhole and Core DAO specialists on Ethereum's update

Dencun, according to Ethereum developers, will provide enhanced data accessibility for layer-2 solutions such as Optimism and Arbitrum, enabling higher transaction volume at reduced gas costs.

In a message obtained by crypto.news, Rich Rines, one of the original contributors of Core DAO, warned that the attention being paid to Ethereum L2 might lead to unanticipated problems with on-chain fragmentation and liquidity.
 

Rines stated that, barring unanticipated delays, observers will need to keep a careful eye on Dencun's development following deployment, which is anticipated by March 13. The Core DAO contributor added that concerns might surface over whether the upgrade's original intent was the right one.

However, Robin Burkey, the CCO and co-founder of the Wormhole Foundation, has a positive outlook on Dencun and believes that the upgrade will signal a significant rise in cross-chain asset transfers.
 

Burkey said that the Dencun update will increase decentralized finance adoption, accessibility, and dynamism since lower fees should encourage more on-chain activity in the biggest decentralized ecosystem in cryptocurrency.