Layer 2 Cryptocurrencies Mixed as Ethereum's Dencun Upgrade Goes Live

Layer 2 cryptocurrencies had a mixed performance as the Ethereum blockchain's Dencun upgrade was implemented. Polygon, Arbitrum, and Metis experienced gains, while Immutable X and Celo declined. The upgrade enabled cheaper transactions on layer-2 protocols, and native tokens of Polygon, Arbitrum, and Metis were up 6%-7% over the past 24 hours, outperforming the CoinDesk 20 Index. The Dencun upgrade is considered a significant milestone for the ecosystem, and while ETH and layer-2 tokens performed well leading up to it, there may be a correction in the market as anticipation for the upgrade passes.