Demex Daily #79: Ethereum's Dencun Upgrade Advances with Successful Sepolia Testnet Implementation

What’s Interesting Today:

The "Dencun" upgrade, a significant update for Ethereum, has been successfully implemented on its second testnet, Sepolia. This upgrade introduces "proto-danksharding" to reduce transaction costs and improve data availability on layer-2 blockchains. After launching on the Goerli testnet with some issues, Dencun is set to go live on its final testnet, Holesky, on February 7. Post-Holesky, a date will be determined for Dencun's activation on the main Ethereum blockchain. This upgrade follows Ethereum's last major update, the Shapella upgrade.

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Swell has introduced rswETH, a liquid restaking token hat enables users to earn Ethereum staking rewards and additional yields from EigenLayer without immobilizing their assets, allowing for use in other DeFi protocols. This launch is part of the growing liquid restaking trend in DeFi, with Swell's TVL at $455.6M. The sector is led by protocols like EigenLayer and EtherFi, the latter seeing its token eETH reach a $507M TVL. Liquid restaking allows users to gain staking rewards without the constraints of traditional staking, maintaining liquidity and flexibility in asset utilization.

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