[Singapore Token 2049] Buterin "Etherium Gas Fee Converges to Zero..."A Great Revolution is coming"

ETH Surge Due to Dencun Upgrade Announced

Vitalik Buterin, founder of Ethereum, announced the revolution of Ethereum following the upgrade of Ethereum in a speech at 'Singapore Token 2049' on Sept. 19, 2024.

Buterin, who participated in a panel discussion on Sept. 19 of the world's largest blockchain event, Singapore Token 2049, pointed out the reduction in Ethereum's gas fee due to 'Denkun upgrade'.

"The gas ratio of the Ethereum network has reached almost zero, which means Ethereum has reached a critical point," he stressed.

Earlier in March this year, Ethereum announced the success of the Dencun upgrade, which significantly reduced the fees for Ethereum-based Layer 2 networks. The Dencun upgrade reduced the gas cost of Ethereum-based Layer 2 networks by up to 6 times.

Ryan Lee, a researcher at Bitget Research, predicted the bullish market of Ethereum(ETH) last month due to the success of the Dencun upgrade and the resulting decrease in Ethereum gas costs. "Every time Ethereum's gas cost falls to the bottom, Ethereum's price has been rising after hitting the bottom," Lee said in a report published in August. "If the rate cut cycle matches the assumption that Ethereum's gas cost has hit the bottom, Ethereum will show a scary rise."

As if aware of this, Buterin predicted a decrease in Ethereum's gas fee and a surge in Ethereum's prices.

Meanwhile, Blockchain-specialized economic media BlockStreet will join Singapore Token 2049 from the 18th to the 19th as an official media partner and participate in various side events of the event, including the two-day main event, to deliver vivid on-site news

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