Anthony Sassano, the founder of an Ethereum-focused media channel, drew attention to a pump event that will take place in the altcoin market in the next 6-12 months.
Ethereum advocate says next year will be exclusive to these altcoins
The crypto market is witnessing a significant increase in Tier-2 Blockchain projects. Anthony Sassano, a prominent Ethereum advocate and founder of an Ethereum-focused media channel, recently shed light on the technical developments that will take place in this industry in the medium and long term.
Sassano believes these advances will pave the way for a full-blown “Tier-2 bull” in the crypto market next year. You can take a look at the prominent altcoin projects in this area from this article. The Ethereum supporter then detailed his expectations under a few main headlines…
Key factors of the Tier-2 rally
According to Sassano, the following developments could potentially fuel layer 2 crypto projects for a major rally:
- Ethereum Improvement Proposal (EIP) 4844: Sassano highlighted that the implementation of EIP-4844 is expected to significantly reduce its fees. This offer, which will go live by the end of this year, will address one of the most pressing pain points for users and developers in Tier-2 solutions, making them more affordable.
- Basic mainnet expansion. Once the core mainnet goes live, the Ethereum ecosystem is poised to potentially attract millions of new participants. This expansion will drive greater adoption and use of Tier-2 solutions as more users interact with Ethereum-based applications.
- General improvements to roll-ups: Continuous improvements to roll-ups will improve the overall user experience. These advances will further enhance functionality by streamlining interactions with Tier 2 solutions.
- Launch of new applications at Tier 2. Sassano predicts that innovative DeFi projects, autonomous worlds, and real-world assets will be the driving force behind roll-ups, launching tokenization in Tier 2 and Tier 3 solutions. These apps will unlock new possibilities and use cases by attracting more users to the Tier 2 ecosystem.
- General market momentum. In addition to specific developments in the Tier-2 area, Sassano also predicts an overall warm market in 2024. While this prediction is based on his own intuition, it further supports the idea of a promising “layer 2 post”.
Which Tier-2 altcoin projects should be bought?
With the factors mentioned above, there is no doubt that the price of Ethereum could be set for an explosive run next year. However, there are a few other ETH-based altcoin projects that will likely skyrocket to ATH levels:
- Polygon (MATIC): It is touted as the most robust Layer 2 solution. He has also established notable partnerships with companies such as Polygon, Nike, Adobe, Starbucks.
- Arbitrum (ARB): Arbitrum recently made waves with its native USDC launch, which brought a host of useful parameters, including faster withdrawals, the possibility of upgradable smart contract for future developments, and corporate logins and outputs.
- Loopring (LRC): Uses ZK technology, which is a popular way to increase privacy for decentralized exchanges.
Ethereum and 2024 bull run expectations
Sassano concludes that the current bear market in 2022/2023 will serve as the basis for a potential Tier 2 bull in 2024, just as the foundations for the DeFi rally seen in 2020 were laid during the bear market of 2018 and 2019.
Reflecting similar sentiments, the crypto community eagerly awaits technical advances, reduced fees, and the launch of new apps. Thus laying the groundwork for a much-needed bull run with the growing impact of Tier 2 projects.
Which Tier-2 projects are in the foreground?
According to data from CMC, the largest L2 projects currently by market cap are as follows:
- Polygon (MATIC)
- Arbitrum (ARB)
- Optimism (OP)
- BitDAO (BIT)
- Stacks (STX)
- Mina (MINA)
- Looping (LRC)
- Bone ShibaSwap (BONE)
- Cartesi (CTSI)
- HEX
- MetisDAO (METIS)
- Boba Network (BOBA)
- Dogechain (DC)
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