diff --git a/go.mod b/go.mod
index e0a7dc1a..3204f884 100644
--- a/go.mod
+++ b/go.mod
@@ -12,7 +12,7 @@ require (
 	github.com/google/uuid v1.6.0
 	github.com/hashicorp/go-multierror v1.1.1
 	github.com/hashicorp/golang-lru v1.0.2
-	github.com/ipfs/boxo v0.22.0
+	github.com/ipfs/boxo v0.24.3
 	github.com/ipfs/go-cid v0.4.1
 	github.com/ipfs/go-datastore v0.6.0
 	github.com/ipfs/go-detect-race v0.0.1
@@ -34,8 +34,8 @@ require (
 	github.com/stretchr/testify v1.9.0
 	github.com/whyrusleeping/go-keyspace v0.0.0-20160322163242-5b898ac5add1
 	go.opencensus.io v0.24.0
-	go.opentelemetry.io/otel v1.27.0
-	go.opentelemetry.io/otel/trace v1.27.0
+	go.opentelemetry.io/otel v1.31.0
+	go.opentelemetry.io/otel/trace v1.31.0
 	go.uber.org/multierr v1.11.0
 	go.uber.org/zap v1.27.0
 	gonum.org/v1/gonum v0.15.0
@@ -126,7 +126,7 @@ require (
 	github.com/raulk/go-watchdog v1.3.0 // indirect
 	github.com/spaolacci/murmur3 v1.1.0 // indirect
 	github.com/wlynxg/anet v0.0.5 // indirect
-	go.opentelemetry.io/otel/metric v1.27.0 // indirect
+	go.opentelemetry.io/otel/metric v1.31.0 // indirect
 	go.uber.org/dig v1.18.0 // indirect
 	go.uber.org/fx v1.23.0 // indirect
 	go.uber.org/mock v0.5.0 // indirect
diff --git a/go.sum b/go.sum
index 16c59746..d04192bc 100644
--- a/go.sum
+++ b/go.sum
@@ -172,8 +172,8 @@ github.com/hpcloud/tail v1.0.0/go.mod h1:ab1qPbhIpdTxEkNHXyeSf5vhxWSCs/tWer42PpO
 github.com/huin/goupnp v1.3.0 h1:UvLUlWDNpoUdYzb2TCn+MuTWtcjXKSza2n6CBdQ0xXc=
 github.com/huin/goupnp v1.3.0/go.mod h1:gnGPsThkYa7bFi/KWmEysQRf48l2dvR5bxr2OFckNX8=
 github.com/inconshreveable/mousetrap v1.0.0/go.mod h1:PxqpIevigyE2G7u3NXJIT2ANytuPF1OarO4DADm73n8=
-github.com/ipfs/boxo v0.22.0 h1:QTC+P5uhsBNq6HzX728nsLyFW6rYDeR/5hggf9YZX78=
-github.com/ipfs/boxo v0.22.0/go.mod h1:yp1loimX0BDYOR0cyjtcXHv15muEh5V1FqO2QLlzykw=
+github.com/ipfs/boxo v0.24.3 h1:gldDPOWdM3Rz0v5LkVLtZu7A7gFNvAlWcmxhCqlHR3c=
+github.com/ipfs/boxo v0.24.3/go.mod h1:h0DRzOY1IBFDHp6KNvrJLMFdSXTYID0Zf+q7X05JsNg=
 github.com/ipfs/go-block-format v0.2.0 h1:ZqrkxBA2ICbDRbK8KJs/u0O3dlp6gmAuuXUJNiW1Ycs=
 github.com/ipfs/go-block-format v0.2.0/go.mod h1:+jpL11nFx5A/SPpsoBn6Bzkra/zaArfSmsknbPMYgzM=
 github.com/ipfs/go-cid v0.0.3/go.mod h1:GHWU/WuQdMPmIosc4Yn1bcCT7dSeX4lBafM7iqUPQvM=
@@ -534,12 +534,12 @@ go.opencensus.io v0.22.1/go.mod h1:Ap50jQcDJrx6rB6VgeeFPtuPIf3wMRvRfrfYDO6+BmA=
 go.opencensus.io v0.22.2/go.mod h1:yxeiOL68Rb0Xd1ddK5vPZ/oVn4vY4Ynel7k9FzqtOIw=
 go.opencensus.io v0.24.0 h1:y73uSU6J157QMP2kn2r30vwW1A2W2WFwSCGnAVxeaD0=
 go.opencensus.io v0.24.0/go.mod h1:vNK8G9p7aAivkbmorf4v+7Hgx+Zs0yY+0fOtgBfjQKo=
-go.opentelemetry.io/otel v1.27.0 h1:9BZoF3yMK/O1AafMiQTVu0YDj5Ea4hPhxCs7sGva+cg=
-go.opentelemetry.io/otel v1.27.0/go.mod h1:DMpAK8fzYRzs+bi3rS5REupisuqTheUlSZJ1WnZaPAQ=
-go.opentelemetry.io/otel/metric v1.27.0 h1:hvj3vdEKyeCi4YaYfNjv2NUje8FqKqUY8IlF0FxV/ik=
-go.opentelemetry.io/otel/metric v1.27.0/go.mod h1:mVFgmRlhljgBiuk/MP/oKylr4hs85GZAylncepAX/ak=
-go.opentelemetry.io/otel/trace v1.27.0 h1:IqYb813p7cmbHk0a5y6pD5JPakbVfftRXABGt5/Rscw=
-go.opentelemetry.io/otel/trace v1.27.0/go.mod h1:6RiD1hkAprV4/q+yd2ln1HG9GoPx39SuvvstaLBl+l4=
+go.opentelemetry.io/otel v1.31.0 h1:NsJcKPIW0D0H3NgzPDHmo0WW6SptzPdqg/L1zsIm2hY=
+go.opentelemetry.io/otel v1.31.0/go.mod h1:O0C14Yl9FgkjqcCZAsE053C13OaddMYr/hz6clDkEJE=
+go.opentelemetry.io/otel/metric v1.31.0 h1:FSErL0ATQAmYHUIzSezZibnyVlft1ybhy4ozRPcF2fE=
+go.opentelemetry.io/otel/metric v1.31.0/go.mod h1:C3dEloVbLuYoX41KpmAhOqNriGbA+qqH6PQ5E5mUfnY=
+go.opentelemetry.io/otel/trace v1.31.0 h1:ffjsj1aRouKewfr85U2aGagJ46+MvodynlQ1HYdmJys=
+go.opentelemetry.io/otel/trace v1.31.0/go.mod h1:TXZkRk7SM2ZQLtR6eoAWQFIHPvzQ06FJAsO1tJg480A=
 go.uber.org/atomic v1.6.0/go.mod h1:sABNBOSYdrvTF6hTgEIbc7YasKWGhgEQZyfxyTvoXHQ=
 go.uber.org/atomic v1.7.0/go.mod h1:fEN4uk6kAWBTFdckzkM89CLk9XfWZrxpCo0nPH17wJc=
 go.uber.org/dig v1.18.0 h1:imUL1UiY0Mg4bqbFfsRQO5G4CGRBec/ZujWTvSVp3pw=
diff --git a/version.json b/version.json
index 4a92678c..9452fe13 100644
--- a/version.json
+++ b/version.json
@@ -1,3 +1,3 @@
 {
-  "version": "v0.27.0"
+  "version": "v0.28.0"
 }