Ethereum Layer-2s About To Take Off, Says Coin Bureau’s Guy Turner – Here Are His Top Picks

By The Daily Hodl February 23, 2024 In Ethereum, Polygon, Sidechains, Trading

The host of the Coin Bureau YouTube channel, Guy Turner, is expressing bullish sentiment on Ethereum (ETH) layer-2 projects.

In a new strategy session, Turner tells the 2.41 million channel subscribers that ETH’s Dencun update may cause layer-2 projects to go on massive rallies and he names his top four picks.

The Dencun upgrade, which is expected to roll out in March, aims to reduce costs for layer-2 transactions and data availability on the leading smart contract platform.

Says Turner,


“As the Dencun upgrade draws near, Ethereum’s layer-2s are about to take off.”

First up, the trader says that Arbitrum (ARB) could maintain its upward momentum.

“ARB recently hit an all-time high of $2.40 on the 12th of January, and hasn’t really shown many signs of slowing down either in large part due to the anticipated effects of Dencun. This is because Dencun’s impact on layer-2 transaction speeds and costs will likely see more and more people adopting Arbitrum as an even cheaper way of interacting with Ethereum.”

Arbitrum is trading for $1.83 at time of writing, down 6% in the last 24 hours.

Next up, the trader says Optimism (OP) has a lot of upward potential due to its aim to build a “superchain” ecosystem that promotes collaboration across multiple layer-2 scaling solutions.

“One of the first entrants to the ‘superchain’ ecosystem was none other than Coinbase’s very own layer-2 solution, Base…

This superchain could quickly become a reality after Dencun.”

Optimism is trading for $3.68 at time of writing, down more than 9% in the past 24 hours.

Another scaling solution on the trader’s radar is Immutable X (IMX), which he believes could become more popular in the GameFi industry.

“Immutable could see a rapid acceleration in blockchain gaming development as network efficiency is supercharged. With Immutable being positioned as a big player in the GameFi narrative, many more gaming developers will be turning their attention to the best environment to launch their products in, and Immutable will be a top contender in that regard.”

Immutable is trading for $3.33 at time of writing, down more than 5% in the last 24 hours.

Lastly, the trader says Polygon (MATIC) could rise in value due to its own planned network upgrade called Polygon 2.0.

“MATIC hit an all-time high of $2.92 on the 27th of December 2021. At the time of shooting, it’s still at 66% down from this price point. However, this could all change with 2.0.”

MATIC is trading for $0.93, down nearly 9% in the last 24 hours.

Generated Image: Midjourney

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