- Ethereum is launching the Hoodi testnet on Monday to test its upcoming Pectra upgrade, which could go live as early as April 25.
- Pectra aims to enhance Ethereum’s scalability, reduce fees, and increase staking flexibility, potentially becoming one of the largest upgrades since The Merge.
- Despite the upcoming upgrade, ethereum’s price remains stagnant at around $1,900, having lost 13.3% in the past week and 52% of its market dominance over the past year.
Ethereum developers are preparing to launch a new testnet called Hoodi on Monday, March 17, to test the network’s upcoming Pectra upgrade. This high-stakes test follows previous technical issues with the Holesky and Sepolia testnets and could pave the way for a mainnet implementation as soon as April 25, potentially delivering significant improvements to the world’s second-largest blockchain.
The Pectra upgrade represents the third major update to Ethereum since The Merge in 2022, which transitioned the network from proof-of-work to proof-of-stake. Market reaction to the news has been muted, with ETH gaining just 0.5% in the past 24 hours to trade around $1,900, according to CoinGecko data. The cryptocurrency has declined 13.3% over the past week amid broader market pressures related to President Trump’s trade policies.
Previous testing efforts encountered significant challenges, with Holesky experiencing invalid blocks. The development team hopes the Hoodi testnet, scheduled for Monday, March 17, will resolve these issues.
Meanwhile, Ethereum’s competitors have gained ground. According to TradingView, Ethereum has lost 52% of its market capitalization dominance over the past year, while cryptocurrencies like XRP have increased their market share by 258.98%.
The Pectra upgrade promises several notable improvements:
- Multi-token gas fee payments, allowing users to pay transaction costs with stablecoins like USDC
- Third-party fee sponsorship, enabling entities to cover gas fees for users
- Increased validator capacity from 32 ETH to 2,048 ETH
- Enhanced staking flexibility with improved withdrawal options
- Groundwork for social recovery mechanisms, allowing users to regain access to wallets through trusted contacts
Many industry observers consider Pectra to be the most significant upgrade to Ethereum since The Merge and one of its largest in its history. Following sufficient testing, developers will schedule a mainnet implementation at least 30 days after the Hoodi fork, making April 25 the earliest possible date for the upgrade to go live.
Assuming the testing proceeds smoothly, Pectra could enhance Ethereum’s competitive position by addressing key scalability and usability challenges. Developers have indicated they will move forward with the mainnet upgrade once they "feel confident" in the testing results.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- White House Official Reportedly Reveals Trump Plans to Acquire “As Much Bitcoin As Possible”
- ZKsync Sunsets Ignite Liquidity Program Due to Bearish Market Conditions
- ZKsync Ends Ignite Liquidity Program to Focus on Elastic Network Development
- US Senate Banking Committee Passes GENIUS Act for Stablecoin Regulation
- New MassJacker Malware Targets Users Pirating Software, Steals Over $336,000 in Cryptocurrency
