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Market Analysis

Ethereum Set for Upgrade: EIP-7781 Proposal Aims to Boost Throughput by 33%
Dupoin · 17.5K Views

ETHUSD

Prediction: Increase

Fundamental Analysis: 

Ethereum's network is set for a potential upgrade with the proposed EIP-7781 by Ben Adams, co-founder of Illyriad Games. This proposal aims to improve Ethereum’s throughput by 33% by reducing slot times from 12 seconds to 8 seconds. Slot times are intervals when validators can propose new blocks, so the reduced slot time would lower the latency for based rollups—a new type of rollup that uses the main chain for transaction sequencing instead of optimistic or ZK rollups. Additionally, the proposal could increase the number of blobs (a data structure for Layer 2 transactions introduced with the March Dencun update) from 6 to 8, or raise the gas limit from 30 million to 40 million.

Technical Analysis: 

Ethereum is currently trading around $2,450, showing slight gains on the day. The altcoin has seen nearly $57 million in liquidations over the last 24 hours, with $41.23 million from long positions and $15.75 million from shorts. ETH is consolidating within a key rectangle channel after facing resistance near the $2,500 psychological level, which resulted in a Doji candle on the 4-hour chart, indicating market indecision.

 

 

 

 

 

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