Bitwise CIO: Dencun upgrade will bring zero price effect to Ethereum

The technical details of the Dencun upgrade are complicated, but the impact is easy to understand: the price of transactions on the Ethereum network has dropped by more than 90%, Bitwise Chief Investment Officer Matt Hougan proposed in the latest weekly memo to professional investors. On average, transaction costs on the network may now be less than a penny, and in some cases, effectively zero, meaning the Dencun upgrade will bring "zero price effects" to Ethereum. Matt Hougan explains that the zero price effect in economics is the exponential increase in demand for many goods when the price drops to zero.