Ethereum advocate Anthony Sassano claimed in his recent analysis that these altcoins could hit the spotlight with a big bang next year.
Over the past few months, Layer-2 blockchain projects have seen a significant increase. However, a number of developments built on the projects continue to multiply the value of the projects. Anthony Sassano, a well-known Ethereum advocate and founder of an Ethereum-focused media channel, recently announced the technical developments that will take place in the Layer-2 ecosystem in the next 6-12 months. Sassano believes that these developments will pave the way for a full “layer-2 summer” in the crypto market next year. The expert explains the driving factors that could lead to the layer-2 rally:
Ethereum Improvement Proposal (EIP) 4844: Sassano highlighted that the implementation of EIP-4844 is expected to significantly reduce rollup fees. This proposal, which will go live by the end of this year, will address one of the biggest challenges for users and developers in layer-2 solutions, making them more accessible and affordable.
Core Mainnet Expansion: With the basic mainnet going live, the Ethereum ecosystem is poised to potentially attract millions of new participants. This expansion will increase the adoption and use of layer-2 solutions as more users interact with Ethereum-based applications.
General Improvements to Rollups: Continuous enhancements and improvements to Rollups will improve the overall user experience and developer ecosystem. These improvements will facilitate interactions with layer-2 solutions, further increasing their appeal and functionality.
Launching New Applications in Layer-2: Sassano envisions the tokenization of innovative decentralized finance (DeFi) projects, autonomous worlds and real-world assets in rollups, layer-2 and layer-3 solutions will be the driving force behind the anticipated rally. These apps will unlock new possibilities and use cases, attracting more users to the layer-2 ecosystem.
Overall Market Momentum: Sassano predicts a potentially hot market overall in 2024, in addition to specific developments in the Layer 2 area. While this prediction is based on his own intuition, it further reinforces the notion of a promising “layer 2 summer” next year.
Sassano concludes that just as the DeFi rally seen in 2020 was laid during the 2018 and 2019 bear markets, the current bear market in 2022/2023 will form the basis for a potential Layer 2 summer in 2024.