The Ethereum network now has improved scalability following the recent activation of the second Blob Parameter-Only (BPO2) hard fork on Wednesday. The upgrade raises the blob limit to 21, raising the data capacity and allowing improved scaling with rollups.
Ethereum achieves higher throughput after activating the BPO2 hard fork
Ethereum core developer Terence confirmed that the network’s second BPO went live on Wednesday, increasing data throughput by allowing batching of more transactions via rollups.
Besides supporting higher transaction throughput on Ethereum L2s, the blobs also help to stabilize gas fees on the network by reducing congestion.
The BOP2 upgrade also raises the blob target from 10 to 14. The blob target metric is widely regarded as more significant for the Ethereum network since achieving the 21-blob limit consistently could overload node bandwidth and storage.
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2. Hyperliquid rallies 4% amid price recovery
Hyperliquid (HYPE) has been surging this week, gaining over 7%. Over the past 24 hours, the coin has surged by 4% as the HYPE price topped $27.63 on January 7th, per data by Coingecko.
Following the impressive surge, analyst Crypto Tony predicts that Hyperliquid will reach $30 in the near future. The analyst cited the reclaim and hold above a key level as the main reason behind his bullish prediction for HYPE.
The price sits a small percentage below Crypto Tony’s target price, and bullish momentum in the upcoming sessions could push Hyperliquid to this level. However, traders must watch out for any signs of retracement as such a move is not guaranteed.
3. Lighter faces a momentum slowdown after a strong rally
Lighter (LIT) recorded an 11.7% surge on the weekly chart, reaching as high as $3.21 according to Coingecko data. However, the coin dropped by 1.3% over the past 24 hours to trade at $3.02 on January 7. This drop suggests a momentum slowdown for the zero-knowledge rollup project built on Ethereum.
Nonetheless, traders are still bullish on Lighter. In one instance, blockchain analysis platform On-chain Lens flagged that one trader deposited $2 million USDC into Lighter to increase their LIT position.
An increase in crypto position by a significant amount suggests that market participants are still confident that the coin may regain bullish momentum soon.
