Ethereum Targets March for Upgrade: SMOG Predicted to Lead in Trading Volume as Traffic Will Rise on Ethereum Network
Ethereum developers have announced March 13 as the target date for the highly anticipated Dencun upgrade, marking the next milestone for the blockchain. This upgrade, featuring the ‘proto-danksharding’ feature, aims to enhance transactions and data availability on the Ethereum network.
The Dencun upgrade represents one of the most substantial changes to Ethereum since April 2023, primarily focusing on reducing transaction costs on auxiliary ‘layer-2’ networks built atop Ethereum. Proto-danksharding is aimed at reducing transaction costs for rollups by introducing data ‘blobs’ for storing data. Additionally, it is expected to decrease the cost of data available on Ethereum, making projects like Celestia, Avail, and EigenDA more appealing.
Historically, Ethereum upgrades have coincided with surges in trading volume on the network, and this time around is no exception. New Solana-based meme coin Smog has recently expanded to Ethereum, leveraging portalbridge.com to enable seamless asset transfers between Solana and Ethereum.
This expansion aims to tap into Ethereum’s extensive liquidity and user base, further boosting Smog accessibility and reach and positioning SMOG to capitalize on the anticipated increase in Ethereum network traffic following the Dencun upgrade.
Smog’s Role in the Crypto Market
Smog, a meme coin launched on the Solana blockchain, has gained significant attention since its debut on February 7th. The project’s success is attributed to its fair launch strategy, which skipped a presale and opted for an extensive airdrop campaign.
The breakdown of Smog’s tokenomics allocates 50% for marketing, 35% for the airdrop, 10% for CEX liquidity, and 5% for DEX liquidity.
SMOG’s innovative features extend beyond its initial launch. The project’s roadmap outlines plans for community building, implementing key features, and scaling the project to new heights.
One notable feature is the staking platform, offering attractive fixed APY yields of up to 42.0% to incentivize long-term token holding. Holders can lock their tokens for 30 days and claim rewards upon reaching the unlock date, providing stability and liquidity to the Smog ecosystem.
Moreover, SMOG has partnered with Zealy, a platform focused on community engagement, to boost activity in its ecosystem by driving user participation. Through quests and activities, users can contribute to the growth of the Smog ecosystem while earning rewards.
Smog Predictions Post-Ethereum Upgrade
As Ethereum prepares for its Dencun upgrade, Smog stands ready to lead in trading volume and capitalize on the increased network traffic. With $SMOG currently priced at $0.004655, the meme coin has lots of potentials to 100x, following in the footsteps of other successful Solana-based meme coins such as BONK.
Notably, the recent surge in the price of Solana is also expected to positively impact $SMOG since it’s a meme coin within the Solana ecosystem. Solana’s price increased by over 20% this week, potentially leading to increased trading volume for $SMOG as users seek opportunities in the Solana altcoin market.
Disclaimer: This is a sponsored article, and views in it do not represent those of ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.
Analyst comment
Positive news:
– The highly anticipated Dencun upgrade for Ethereum is set for March 13, aiming to enhance transactions and data availability on the network.
– The upgrade is expected to boost traffic on the Ethereum network, resulting in increased trading volume.
– Meme coin $SMOG is positioned to lead in trading volume on Ethereum following the upgrade.
– $SMOG has expanded to Ethereum to tap into its liquidity and user base, further boosting accessibility and reach.
Short analysis: With the upcoming Ethereum upgrade and $SMOG’s expansion to the network, trading volume is expected to increase. The meme coin has potential for significant growth, potentially 100x, supported by Ethereum’s traffic boost and Solana’s recent price surge.
