diff --git a/Cargo.lock b/Cargo.lock
index 79eb2eb4ad5..420795b613e 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -545,34 +545,6 @@ dependencies = [
  "tracing-subscriber",
 ]
 
-[[package]]
-name = "axum"
-version = "0.6.20"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3b829e4e32b91e643de6eafe82b1d90675f5874230191a4ffbc1b336dec4d6bf"
-dependencies = [
- "async-trait",
- "axum-core 0.3.4",
- "bitflags 1.3.2",
- "bytes",
- "futures-util",
- "http 0.2.9",
- "http-body 0.4.5",
- "hyper 0.14.27",
- "itoa",
- "matchit",
- "memchr",
- "mime",
- "percent-encoding",
- "pin-project-lite",
- "rustversion",
- "serde",
- "sync_wrapper 0.1.2",
- "tower",
- "tower-layer",
- "tower-service",
-]
-
 [[package]]
 name = "axum"
 version = "0.7.5"
@@ -580,13 +552,13 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3a6c9af12842a67734c9a2e355436e5d03b22383ed60cf13cd0c18fbfe3dcbcf"
 dependencies = [
  "async-trait",
- "axum-core 0.4.3",
+ "axum-core",
  "bytes",
  "futures-util",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
  "http-body-util",
- "hyper 1.1.0",
+ "hyper 1.4.1",
  "hyper-util",
  "itoa",
  "matchit",
@@ -607,23 +579,6 @@ dependencies = [
  "tracing",
 ]
 
-[[package]]
-name = "axum-core"
-version = "0.3.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "759fa577a247914fd3f7f76d62972792636412fbfd634cd452f6a385a74d2d2c"
-dependencies = [
- "async-trait",
- "bytes",
- "futures-util",
- "http 0.2.9",
- "http-body 0.4.5",
- "mime",
- "rustversion",
- "tower-layer",
- "tower-service",
-]
-
 [[package]]
 name = "axum-core"
 version = "0.4.3"
@@ -633,7 +588,7 @@ dependencies = [
  "async-trait",
  "bytes",
  "futures-util",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
  "http-body-util",
  "mime",
@@ -779,7 +734,7 @@ name = "browser-webrtc-example"
 version = "0.1.0"
 dependencies = [
  "anyhow",
- "axum 0.7.5",
+ "axum",
  "futures",
  "js-sys",
  "libp2p",
@@ -1940,7 +1895,7 @@ dependencies = [
  "futures-core",
  "futures-sink",
  "futures-util",
- "http 1.0.0",
+ "http 1.1.0",
  "indexmap 2.2.1",
  "slab",
  "tokio",
@@ -2131,9 +2086,9 @@ dependencies = [
 
 [[package]]
 name = "http"
-version = "1.0.0"
+version = "1.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b32afd38673a8016f7c9ae69e5af41a58f81b1d31689040f2f1959594ce194ea"
+checksum = "21b9ddb458710bc376481b842f5da65cdf31522de232c1ca8146abce2a358258"
 dependencies = [
  "bytes",
  "fnv",
@@ -2158,7 +2113,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "1cac85db508abc24a2e48553ba12a996e87244a0395ce011e62b37158745d643"
 dependencies = [
  "bytes",
- "http 1.0.0",
+ "http 1.1.0",
 ]
 
 [[package]]
@@ -2169,7 +2124,7 @@ checksum = "41cb79eb393015dadd30fc252023adb0b2400a0caee0fa2a077e6e21a551e840"
 dependencies = [
  "bytes",
  "futures-util",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
  "pin-project-lite",
 ]
@@ -2224,20 +2179,21 @@ dependencies = [
 
 [[package]]
 name = "hyper"
-version = "1.1.0"
+version = "1.4.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "fb5aa53871fc917b1a9ed87b683a5d86db645e23acb32c2e0785a353e522fb75"
+checksum = "50dfd22e0e76d0f662d429a5f80fcaf3855009297eab6a0a9f8543834744ba05"
 dependencies = [
  "bytes",
  "futures-channel",
  "futures-util",
  "h2 0.4.4",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
  "httparse",
  "httpdate",
  "itoa",
  "pin-project-lite",
+ "smallvec",
  "tokio",
  "want",
 ]
@@ -2249,8 +2205,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a0bea761b46ae2b24eb4aef630d8d1c398157b6fc29e6350ecf090a0b70c952c"
 dependencies = [
  "futures-util",
- "http 1.0.0",
- "hyper 1.1.0",
+ "http 1.1.0",
+ "hyper 1.4.1",
  "hyper-util",
  "rustls 0.22.4",
  "rustls-pki-types",
@@ -2261,14 +2217,15 @@ dependencies = [
 
 [[package]]
 name = "hyper-timeout"
-version = "0.4.1"
+version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bbb958482e8c7be4bc3cf272a766a2b0bf1a6755e7a6ae777f017a31d11b13b1"
+checksum = "3203a961e5c83b6f5498933e78b6b263e208c197b63e9c6c53cc82ffd3f63793"
 dependencies = [
- "hyper 0.14.27",
+ "hyper 1.4.1",
+ "hyper-util",
  "pin-project-lite",
  "tokio",
- "tokio-io-timeout",
+ "tower-service",
 ]
 
 [[package]]
@@ -2279,7 +2236,7 @@ checksum = "70206fc6890eaca9fde8a0bf71caa2ddfc9fe045ac9e5c70df101a7dbde866e0"
 dependencies = [
  "bytes",
  "http-body-util",
- "hyper 1.1.0",
+ "hyper 1.4.1",
  "hyper-util",
  "native-tls",
  "tokio",
@@ -2289,20 +2246,19 @@ dependencies = [
 
 [[package]]
 name = "hyper-util"
-version = "0.1.3"
+version = "0.1.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ca38ef113da30126bbff9cd1705f9273e15d45498615d138b0c20279ac7a76aa"
+checksum = "41296eb09f183ac68eec06e03cdbea2e759633d4067b2f6552fc2e009bcad08b"
 dependencies = [
  "bytes",
  "futures-channel",
  "futures-util",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
- "hyper 1.1.0",
+ "hyper 1.4.1",
  "pin-project-lite",
  "socket2 0.5.7",
  "tokio",
- "tower",
  "tower-service",
  "tracing",
 ]
@@ -2456,7 +2412,7 @@ name = "interop-tests"
 version = "0.1.0"
 dependencies = [
  "anyhow",
- "axum 0.7.5",
+ "axum",
  "console_error_panic_hook",
  "either",
  "futures",
@@ -3295,7 +3251,7 @@ dependencies = [
 name = "libp2p-server"
 version = "0.12.7"
 dependencies = [
- "axum 0.7.5",
+ "axum",
  "base64 0.22.1",
  "clap",
  "futures",
@@ -3774,16 +3730,16 @@ dependencies = [
 name = "metrics-example"
 version = "0.1.0"
 dependencies = [
- "axum 0.7.5",
+ "axum",
  "futures",
  "libp2p",
- "opentelemetry 0.23.0",
+ "opentelemetry 0.26.0",
  "opentelemetry-otlp",
- "opentelemetry_sdk 0.23.0",
+ "opentelemetry_sdk 0.26.0",
  "prometheus-client",
  "tokio",
  "tracing",
- "tracing-opentelemetry 0.24.0",
+ "tracing-opentelemetry 0.26.0",
  "tracing-subscriber",
 ]
 
@@ -4198,9 +4154,23 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry"
-version = "0.23.0"
+version = "0.25.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "803801d3d3b71cd026851a53f974ea03df3d179cb758b260136a6c9e22e196af"
+dependencies = [
+ "futures-core",
+ "futures-sink",
+ "js-sys",
+ "once_cell",
+ "pin-project-lite",
+ "thiserror",
+]
+
+[[package]]
+name = "opentelemetry"
+version = "0.26.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1b69a91d4893e713e06f724597ad630f1fa76057a5e1026c0ca67054a9032a76"
+checksum = "570074cc999d1a58184080966e5bd3bf3a9a4af650c3b05047c2621e7405cd17"
 dependencies = [
  "futures-core",
  "futures-sink",
@@ -4228,16 +4198,16 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-otlp"
-version = "0.16.0"
+version = "0.26.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a94c69209c05319cdf7460c6d4c055ed102be242a0a6245835d7bc42c6ec7f54"
+checksum = "29e1f9c8b032d4f635c730c0efcf731d5e2530ea13fa8bef7939ddc8420696bd"
 dependencies = [
  "async-trait",
  "futures-core",
- "http 0.2.9",
- "opentelemetry 0.23.0",
+ "http 1.1.0",
+ "opentelemetry 0.26.0",
  "opentelemetry-proto",
- "opentelemetry_sdk 0.23.0",
+ "opentelemetry_sdk 0.26.0",
  "prost",
  "thiserror",
  "tokio",
@@ -4246,12 +4216,12 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-proto"
-version = "0.6.0"
+version = "0.26.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "984806e6cf27f2b49282e2a05e288f30594f3dbc74eb7a6e99422bc48ed78162"
+checksum = "abbbb5e699de56aacd607631354d0ed0315e67ed36b7398849e4f8a039eaa07e"
 dependencies = [
- "opentelemetry 0.23.0",
- "opentelemetry_sdk 0.23.0",
+ "opentelemetry 0.26.0",
+ "opentelemetry_sdk 0.26.0",
  "prost",
  "tonic",
 ]
@@ -4289,21 +4259,38 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry_sdk"
-version = "0.23.0"
+version = "0.25.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ae312d58eaa90a82d2e627fd86e075cf5230b3f11794e2ed74199ebbe572d4fd"
+checksum = "e0da0d6b47a3dbc6e9c9e36a0520e25cf943e046843818faaa3f87365a548c82"
 dependencies = [
  "async-trait",
  "futures-channel",
  "futures-executor",
  "futures-util",
  "glob",
- "lazy_static",
  "once_cell",
- "opentelemetry 0.23.0",
- "ordered-float 4.2.0",
+ "opentelemetry 0.25.0",
+ "percent-encoding",
+ "rand 0.8.5",
+ "thiserror",
+]
+
+[[package]]
+name = "opentelemetry_sdk"
+version = "0.26.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d2c627d9f4c9cdc1f21a29ee4bfbd6028fcb8bcf2a857b43f3abdf72c9c862f3"
+dependencies = [
+ "async-trait",
+ "futures-channel",
+ "futures-executor",
+ "futures-util",
+ "glob",
+ "once_cell",
+ "opentelemetry 0.26.0",
  "percent-encoding",
  "rand 0.8.5",
+ "serde_json",
  "thiserror",
  "tokio",
  "tokio-stream",
@@ -4618,9 +4605,9 @@ dependencies = [
 
 [[package]]
 name = "prost"
-version = "0.12.3"
+version = "0.13.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "146c289cda302b98a28d40c8b3b90498d6e526dd24ac2ecea73e4e491685b94a"
+checksum = "7b0487d90e047de87f984913713b85c601c05609aad5b0df4b4573fbf69aa13f"
 dependencies = [
  "bytes",
  "prost-derive",
@@ -4628,9 +4615,9 @@ dependencies = [
 
 [[package]]
 name = "prost-derive"
-version = "0.12.3"
+version = "0.13.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "efb6c9a1dd1def8e2124d17e83a20af56f1570d6c2d2bd9e266ccb768df3840e"
+checksum = "e9552f850d5f0964a4e4d0bf306459ac29323ddfbae05e35a7c0d35cb0803cc5"
 dependencies = [
  "anyhow",
  "itertools",
@@ -4978,10 +4965,10 @@ dependencies = [
  "futures-core",
  "futures-util",
  "h2 0.4.4",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
  "http-body-util",
- "hyper 1.1.0",
+ "hyper 1.4.1",
  "hyper-rustls",
  "hyper-tls",
  "hyper-util",
@@ -5965,7 +5952,7 @@ dependencies = [
  "async-trait",
  "base64 0.22.1",
  "futures",
- "http 1.0.0",
+ "http 1.1.0",
  "indexmap 2.2.1",
  "parking_lot",
  "paste",
@@ -6120,16 +6107,6 @@ dependencies = [
  "windows-sys 0.48.0",
 ]
 
-[[package]]
-name = "tokio-io-timeout"
-version = "1.2.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "30b74022ada614a1b4834de765f9bb43877f910cc8ce4be40e89042c9223a8bf"
-dependencies = [
- "pin-project-lite",
- "tokio",
-]
-
 [[package]]
 name = "tokio-macros"
 version = "2.3.0"
@@ -6164,9 +6141,9 @@ dependencies = [
 
 [[package]]
 name = "tokio-stream"
-version = "0.1.14"
+version = "0.1.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "397c988d37662c7dda6d2208364a706264bf3d6138b11d436cbac0ad38832842"
+checksum = "4f4e6ce100d0eb49a2734f8c0812bcd324cf357d21810932c5df6b96ef2b86f1"
 dependencies = [
  "futures-core",
  "pin-project-lite",
@@ -6223,23 +6200,26 @@ dependencies = [
 
 [[package]]
 name = "tonic"
-version = "0.11.0"
+version = "0.12.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "76c4eb7a4e9ef9d4763600161f12f5070b92a578e1b634db88a6887844c91a13"
+checksum = "877c5b330756d856ffcc4553ab34a5684481ade925ecc54bcd1bf02b1d0d4d52"
 dependencies = [
  "async-stream",
  "async-trait",
- "axum 0.6.20",
- "base64 0.21.7",
+ "axum",
+ "base64 0.22.1",
  "bytes",
- "h2 0.3.26",
- "http 0.2.9",
- "http-body 0.4.5",
- "hyper 0.14.27",
+ "h2 0.4.4",
+ "http 1.1.0",
+ "http-body 1.0.0",
+ "http-body-util",
+ "hyper 1.4.1",
  "hyper-timeout",
+ "hyper-util",
  "percent-encoding",
  "pin-project",
  "prost",
+ "socket2 0.5.7",
  "tokio",
  "tokio-stream",
  "tower",
@@ -6277,7 +6257,7 @@ dependencies = [
  "bitflags 2.4.1",
  "bytes",
  "futures-util",
- "http 1.0.0",
+ "http 1.1.0",
  "http-body 1.0.0",
  "http-body-util",
  "http-range-header",
@@ -6369,14 +6349,14 @@ dependencies = [
 
 [[package]]
 name = "tracing-opentelemetry"
-version = "0.24.0"
+version = "0.26.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f68803492bf28ab40aeccaecc7021096bd256baf7ca77c3d425d89b35a7be4e4"
+checksum = "5eabc56d23707ad55ba2a0750fc24767125d5a0f51993ba41ad2c441cc7b8dea"
 dependencies = [
  "js-sys",
  "once_cell",
- "opentelemetry 0.23.0",
- "opentelemetry_sdk 0.23.0",
+ "opentelemetry 0.25.0",
+ "opentelemetry_sdk 0.25.0",
  "smallvec",
  "tracing",
  "tracing-core",
diff --git a/examples/metrics/Cargo.toml b/examples/metrics/Cargo.toml
index 2b82668f52a..a409d42d879 100644
--- a/examples/metrics/Cargo.toml
+++ b/examples/metrics/Cargo.toml
@@ -11,14 +11,23 @@ release = false
 [dependencies]
 futures = { workspace = true }
 axum = "0.7"
-libp2p = { path = "../../libp2p", features = ["tokio", "metrics", "ping", "noise", "identify", "tcp", "yamux", "macros"] }
-opentelemetry = { version = "0.23.0", features = ["metrics"] }
-opentelemetry-otlp = { version = "0.16.0", features = ["metrics"] }
-opentelemetry_sdk = { version = "0.23.0", features = ["rt-tokio", "metrics"] }
+libp2p = { path = "../../libp2p", features = [
+    "tokio",
+    "metrics",
+    "ping",
+    "noise",
+    "identify",
+    "tcp",
+    "yamux",
+    "macros",
+] }
+opentelemetry = { version = "0.26.0", features = ["metrics"] }
+opentelemetry-otlp = { version = "0.26.0", features = ["metrics"] }
+opentelemetry_sdk = { version = "0.26.0", features = ["rt-tokio", "metrics"] }
 prometheus-client = { workspace = true }
 tokio = { workspace = true, features = ["full"] }
 tracing = { workspace = true }
-tracing-opentelemetry = "0.24.0"
+tracing-opentelemetry = "0.26.0"
 tracing-subscriber = { workspace = true, features = ["env-filter"] }
 
 [lints]