Ethereum News: Holesky Testnet Achieves Finality Ahead of Major Upgrade

In a significant development for the Ethereum blockchain, the Holesky testnet has successfully achieved finality, marking an important milestone in the lead-up to the upcoming Pectra upgrade. Here’s a closer look at what this means for the future of Ethereum.

Ethereum Testnet Holesky Achieves Finality After Delays

Ethereum testnet Holesky has achieved finality, an important milestone amid delays and technical issues ahead of the Pectra upgrade. This will be the blockchain’s biggest upgrade since 2022’s The Merge. The milestone was achieved at roughly 3 p.m. ET on March 10. The Ethereum community uses testnets to trial updates before they go live to avoid disrupting the main Ethereum blockchain. In this context, ’finality’ means that all transactions on Holesky are now Immutable and irreversible. Pectra, originally scheduled for March 2025, has been pushed back due to technical failures.

Ethereum’s Bearish Signals Grow: Could ETH Drop Below $1,000?

Ethereum faces uncertainty with potential drops to $1,500 or lower if the bear market deepens. Market sentiment remains divided, with some traders accumulating ETH at current levels expecting a rebound, while others have reduced their positions due to weak bullish momentum. One trader, EGRAG CRYPTO, initially bought ETH around $3,750 but covered his position at $3,850 due to poor technical readings.

Fidelity Asks SEC to Allow Staking in Ethereum ETF

Fidelity has requested the U.S. Securities and Exchange Commission (SEC) to allow staking for the Fidelity Ethereum Fund (FETH). Staking involves locking ETH to secure the Ethereum network and generate rewards. If approved, a staked ETH ETF could offer investors additional income beyond traditional spot Ethereum ETFs. The filing emphasizes that staking would enhance investor returns, streamline the fund’s creation and redemption process, and improve overall efficiency.

Ethereum Price Tanks 9% to $1,888—Analysts Warn of a Potential $400 Crash

Ethereum price plunged 9% to $1,888 on Mar. 11, deepening its ongoing sell-off. Analysts warn that if key support levels fail, ETH could drop as low as $400. The second-largest cryptocurrency has now dropped over 30% in a month and 50% over the last three months, raising concerns about a deeper market downturn. Ali Martinez, a crypto analyst, warned that Ethereum is breaking below a critical trendline, potentially leading to a drop as low as $1,250 if selling pressure continues.