Ethereum News: Shadow Fork Launched to Secure Pectra Update Amid Holesky Testnet Issues

Ethereum developers have had to take unexpected measures to ensure the smooth deployment of their upcoming Pectra update, following a series of issues that paralyzed the Holesky testnet.

Ethereum Launches Shadow Fork to Secure Pectra Amid Holesky Testnet Issues

Ethereum is facing a setback in the development of its upcoming update, Pectra. The Holesky testnet has been paralyzed since February 24 due to a series of issues. To mitigate the impact on testing, Ethereum developers have decided to launch a ’shadow testnet’. Although the outage is unrelated to Pectra, it has hindered testing, potentially delaying its deployment initially scheduled for early spring. Initial tests of Pectra on the Sepolia testnet were conclusive, but a new error raised doubts. The ongoing Holesky outage complicates Ethereum’s schedule and raises concerns about the stability of the ecosystem before the final deployment.

Ethereum Price Prediction 2025, 2026 – 2030: Can ETH Price Hit $5k?

The Ethereum price today is $2,187.89. With a potential surge, ETH price could hit $5,925 in 2025 and reach a high of $15,575 by 2030. Ethereum’s price trajectory is a focal point for investors, amplified by recent events like the ByBit hack. The shift to Ethereum 2.0, expanding Layer 2 solutions, and growing DeFi adoption are key factors shaping Ethereum’s future.

Ethereum Struggles to Hold $2K as Whales Offload ETH

Ethereum is facing difficulty maintaining the $2K price mark. Whales have been offloading significant amounts of ETH, with over 40,000 ETH worth $89.9 million moved. In the past two weeks, over 60,000 ETH have been transferred to exchanges, hinting at potential further sell-offs. The MVRV ratio for Ethereum has dropped below 1, suggesting a potential price reversal if demand increases. Notably, Ethereum’s unrealized profit ratio for large holders has fallen to levels last seen in November 2022, indicating that even whales are experiencing losses.

NFT Trading Volume Declines 63% Since December, AI dApps Surge

NFT trading volume has seen a sharp decline of 63% since December, falling from $1.36 billion to $498 million in February according to DappRadar’s latest report. Despite this, some collections like Pudgy Penguins remain active with a 25% increase in sales. Meanwhile, AI-powered NFT collections like Kaito Genesis have gained traction, partnering with Azuk and reaching a floor price of 7.65 Ethereum (ETH). The report highlights the surge of artificial intelligence dApps as the fastest growing sector in web3.