Bitcoin Surges Past $73,000, Dencun’s Impact on L2 Fees, and Altcoin Rally
“Should Have Bought” is a news podcast featuring the ForkLog editorial team and friends, discussing the week’s major industry events and the hottest tokens.
This episode covers: the activation of Dencun and its impact on L2 solutions fees, Bitcoin’s new all-time high above $73,000 followed by a correction below $68,000, a new wave of meme madness, and record inflows into ETFs.
Participants: ForkLog authors Lena Jess, Alex K., Vasily Smirnov.
Special guest: former Binance top manager and Blum co-founder Gleb Kostarev.
New ATH Above $73,000 and Subsequent Bitcoin Correction
On March 11, the first cryptocurrency’s price surpassed $70,000. The price continued to rise, crossing $71,000 and $72,000. Bitcoin overtook silver in market capitalization, while Ethereum broke through $4,000.
On March 13, digital gold reached a new ATH above $73,000. However, a correction soon followed—by March 15, the price fell below $68,000, briefly dipping under $66,000. Leading altcoins also turned red, with Solana being the exception.
Glassnode experts noted that amid the cryptocurrency rally above $70,000, holders began selling to lock in profits.
Record Inflow into ETFs
On March 12, the net inflow into spot exchange-traded funds based on the first cryptocurrency reached $1.05 billion. This figure is 56% higher than the previous February record of $673 million.
BlackRock continues to lead the ETF race—over two months, the asset manager accumulated more than 200,000 BTC.
GBTC by Grayscale is still experiencing outflows. On March 12 alone, investors withdrew about $78 million.
Bloomberg analyst Eric Balchunas identified two “powerful catalysts” for future activity in the segment—the addition of major platforms to the list of spot Bitcoin ETF instruments and the approval of options based on them.
Dencun Upgrade and Long-Awaited Fee Reduction
On March 13, the Ethereum team successfully implemented the Dencun (Deneb-Cancun) upgrade on the mainnet.
One of the main components of the upgrade is EIP-4844. It includes the Proto-Danksharding option, designed to scale the network by creating a new type of transaction for large binary data arrays (BLOB).
The extensive upgrade did not affect mainnet fees but significantly reduced transaction costs for users of L2 solutions like StarkNet and Base, Optimism, and zkSync.
The lowest fees were recorded on Zora—at $0.0009.
Ethereum co-founder Vitalik Buterin announced the achievement of “basic rollup scaling.” This is one of the stages of the second phase of The Surge blockchain roadmap.
How to Make $63,400 with $4
A Solana holder managed to earn $63,400 on the meme coin WolfWifBallz with minimal investment in five hours.
On March 10, the user spent 0.025 SOL ($4) to purchase 4,367,218.49 BALLZ. Five hours later, after a significant token price increase, they sold the assets for 428.15 SOL ($63,400).
Researchers at IntoTheBlock concluded that increased network activity amid the meme coin frenzy benefits Ethereum investors by rapidly reducing inflation, but complicates blockchain usage.
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