diff --git a/Cargo.lock b/Cargo.lock
index 52913f9796e..c872cdb48ca 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -3672,7 +3672,7 @@ dependencies = [
  "libp2p",
  "opentelemetry",
  "opentelemetry-otlp",
- "opentelemetry_api",
+ "opentelemetry_sdk",
  "prometheus-client",
  "tokio",
  "tracing",
@@ -4050,26 +4050,32 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry"
-version = "0.20.0"
+version = "0.21.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9591d937bc0e6d2feb6f71a559540ab300ea49955229c347a517a28d27784c54"
+checksum = "1e32339a5dc40459130b3bd269e9892439f55b33e772d2a9d402a789baaf4e8a"
 dependencies = [
- "opentelemetry_api",
- "opentelemetry_sdk",
+ "futures-core",
+ "futures-sink",
+ "indexmap 2.2.1",
+ "js-sys",
+ "once_cell",
+ "pin-project-lite",
+ "thiserror",
+ "urlencoding",
 ]
 
 [[package]]
 name = "opentelemetry-otlp"
-version = "0.13.0"
+version = "0.14.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7e5e5a5c4135864099f3faafbe939eb4d7f9b80ebf68a8448da961b32a7c1275"
+checksum = "f24cda83b20ed2433c68241f918d0f6fdec8b1d43b7a9590ab4420c5095ca930"
 dependencies = [
  "async-trait",
  "futures-core",
  "http 0.2.9",
+ "opentelemetry",
  "opentelemetry-proto",
  "opentelemetry-semantic-conventions",
- "opentelemetry_api",
  "opentelemetry_sdk",
  "prost",
  "thiserror",
@@ -4079,11 +4085,11 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-proto"
-version = "0.3.0"
+version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b1e3f814aa9f8c905d0ee4bde026afd3b2577a97c10e1699912e3e44f0c4cbeb"
+checksum = "a2e155ce5cc812ea3d1dffbd1539aed653de4bf4882d60e6e04dcf0901d674e1"
 dependencies = [
- "opentelemetry_api",
+ "opentelemetry",
  "opentelemetry_sdk",
  "prost",
  "tonic",
@@ -4091,47 +4097,30 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-semantic-conventions"
-version = "0.12.0"
+version = "0.13.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "73c9f9340ad135068800e7f1b24e9e09ed9e7143f5bf8518ded3d3ec69789269"
+checksum = "f5774f1ef1f982ef2a447f6ee04ec383981a3ab99c8e77a1a7b30182e65bbc84"
 dependencies = [
  "opentelemetry",
 ]
 
-[[package]]
-name = "opentelemetry_api"
-version = "0.20.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8a81f725323db1b1206ca3da8bb19874bbd3f57c3bcd59471bfb04525b265b9b"
-dependencies = [
- "futures-channel",
- "futures-util",
- "indexmap 1.9.3",
- "js-sys",
- "once_cell",
- "pin-project-lite",
- "thiserror",
- "urlencoding",
-]
-
 [[package]]
 name = "opentelemetry_sdk"
-version = "0.20.0"
+version = "0.21.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "fa8e705a0612d48139799fcbaba0d4a90f06277153e43dd2bdc16c6f0edd8026"
+checksum = "2f16aec8a98a457a52664d69e0091bac3a0abd18ead9b641cb00202ba4e0efe4"
 dependencies = [
  "async-trait",
  "crossbeam-channel",
  "futures-channel",
  "futures-executor",
  "futures-util",
+ "glob",
  "once_cell",
- "opentelemetry_api",
+ "opentelemetry",
  "ordered-float",
  "percent-encoding",
  "rand 0.8.5",
- "regex",
- "serde_json",
  "thiserror",
  "tokio",
  "tokio-stream",
@@ -4139,9 +4128,9 @@ dependencies = [
 
 [[package]]
 name = "ordered-float"
-version = "3.9.2"
+version = "4.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f1e1c390732d15f1d48471625cd92d154e66db2c56645e29a9cd26f4699f72dc"
+checksum = "a76df7075c7d4d01fdcb46c912dd17fba5b60c78ea480b475f2b6ab6f666584e"
 dependencies = [
  "num-traits",
 ]
@@ -6041,17 +6030,6 @@ dependencies = [
  "valuable",
 ]
 
-[[package]]
-name = "tracing-log"
-version = "0.1.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "78ddad33d2d10b1ed7eb9d1f518a5674713876e97e5bb9b7345a7984fbb4f922"
-dependencies = [
- "lazy_static",
- "log",
- "tracing-core",
-]
-
 [[package]]
 name = "tracing-log"
 version = "0.2.0"
@@ -6065,18 +6043,20 @@ dependencies = [
 
 [[package]]
 name = "tracing-opentelemetry"
-version = "0.21.0"
+version = "0.22.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "75327c6b667828ddc28f5e3f169036cb793c3f588d83bf0f262a7f062ffed3c8"
+checksum = "c67ac25c5407e7b961fafc6f7e9aa5958fd297aada2d20fa2ae1737357e55596"
 dependencies = [
+ "js-sys",
  "once_cell",
  "opentelemetry",
  "opentelemetry_sdk",
  "smallvec",
  "tracing",
  "tracing-core",
- "tracing-log 0.1.3",
+ "tracing-log",
  "tracing-subscriber",
+ "web-time",
 ]
 
 [[package]]
@@ -6094,7 +6074,7 @@ dependencies = [
  "thread_local",
  "tracing",
  "tracing-core",
- "tracing-log 0.2.0",
+ "tracing-log",
 ]
 
 [[package]]
@@ -6470,6 +6450,16 @@ dependencies = [
  "wasm-bindgen",
 ]
 
+[[package]]
+name = "web-time"
+version = "0.2.4"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "aa30049b1c872b72c89866d458eae9f20380ab280ffd1b1e18df2d3e2d98cfe0"
+dependencies = [
+ "js-sys",
+ "wasm-bindgen",
+]
+
 [[package]]
 name = "webpki-roots"
 version = "0.25.2"
diff --git a/examples/metrics/Cargo.toml b/examples/metrics/Cargo.toml
index 39412d29aea..499e1fb7f4b 100644
--- a/examples/metrics/Cargo.toml
+++ b/examples/metrics/Cargo.toml
@@ -12,13 +12,13 @@ release = false
 futures = "0.3.30"
 hyper = { version = "0.14", features = ["server", "tcp", "http1"] }
 libp2p = { path = "../../libp2p", features = ["tokio", "metrics", "ping", "noise", "identify", "tcp", "yamux", "macros"] }
-opentelemetry = { version = "0.20.0", features = ["rt-tokio", "metrics"] }
-opentelemetry-otlp = { version = "0.13.0", features = ["metrics"]}
-opentelemetry_api = "0.20.0"
+opentelemetry = { version = "0.21.0", features = ["metrics"] }
+opentelemetry-otlp = { version = "0.14.0", features = ["metrics"] }
+opentelemetry_sdk = { version = "0.21.2", features = ["rt-tokio", "metrics"] }
 prometheus-client = { workspace = true }
 tokio = { version = "1", features = ["full"] }
 tracing = "0.1.37"
-tracing-opentelemetry = "0.21.0"
+tracing-opentelemetry = "0.22.0"
 tracing-subscriber = { version = "0.3", features = ["env-filter"] }
 
 [lints]
diff --git a/examples/metrics/src/main.rs b/examples/metrics/src/main.rs
index 3ab6815cb32..6b7ad9cedfb 100644
--- a/examples/metrics/src/main.rs
+++ b/examples/metrics/src/main.rs
@@ -25,8 +25,7 @@ use libp2p::core::Multiaddr;
 use libp2p::metrics::{Metrics, Recorder};
 use libp2p::swarm::{NetworkBehaviour, SwarmEvent};
 use libp2p::{identify, identity, noise, ping, tcp, yamux};
-use opentelemetry::sdk;
-use opentelemetry_api::KeyValue;
+use opentelemetry::KeyValue;
 use prometheus_client::registry::Registry;
 use std::error::Error;
 use std::time::Duration;
@@ -87,13 +86,10 @@ fn setup_tracing() -> Result<(), Box<dyn Error>> {
     let tracer = opentelemetry_otlp::new_pipeline()
         .tracing()
         .with_exporter(opentelemetry_otlp::new_exporter().tonic())
-        .with_trace_config(
-            sdk::trace::Config::default().with_resource(sdk::Resource::new(vec![KeyValue::new(
-                "service.name",
-                "libp2p",
-            )])),
-        )
-        .install_batch(opentelemetry::runtime::Tokio)?;
+        .with_trace_config(opentelemetry_sdk::trace::Config::default().with_resource(
+            opentelemetry_sdk::Resource::new(vec![KeyValue::new("service.name", "libp2p")]),
+        ))
+        .install_batch(opentelemetry_sdk::runtime::Tokio)?;
 
     tracing_subscriber::registry()
         .with(tracing_subscriber::fmt::layer().with_filter(EnvFilter::from_default_env()))