Ethereum News: Holesky Testnet Revival Paves the Way for Pectra Upgrade Testing

After nearly two weeks of instability, the Holesky testnet has regained finality, allowing Ethereum developers to resume testing for the anticipated Pectra upgrade. Here’s a closer look at the recent developments and their implications for Ethereum’s future.

Holesky Testnet Revival Bolsters Ethereum’s Pectra Upgrade Mission

Holesky, an Ethereum testnet, has regained finality after nearly two weeks of instability. The network disruption had stalled testing for the anticipated Pectra upgrade, delaying progress on the upcoming hard fork. However, with Holesky now operational, EthPandaOps confirmed that validators could resume Pectra testing on the testnet. The developers also recommended that solo stakers use the Ephemery testnet for independent testing. On March 10, EthPandaOps confirmed that Holesky finalized at Epoch 119090 after more than two-thirds of validators participated, stabilizing the network.

Americans Potentially Missed Out on Billions in Crypto Airdrops Due to Geoblocking

A new report from crypto venture capital fund Dragonfly estimates that geoblocking policies in cryptocurrency airdrops have potentially cost U.S. users billions of dollars’ worth of lost revenue from 2020-2024. The analysis, part of Dragonfly’s “State of Airdrops 2025” report, analyzed data from 12 Ethereum-based airdrops, with 11 utilizing geoblockers restricting U.S. residents from participating or receiving tokens. Estimates range between $1.84 and $2 billion in lost revenue from these projects alone.

Court Ruling in Uniswap Case Sets Precedent for DeFi Developers

A recent ruling from the Second Circuit Court of Appeals in a Uniswap Labs case reaffirms that neutral, decentralized software creators should not be held liable for third-party misuse of their technology. The decision strengthens legal protections for decentralized finance (DeFi) developers. The lawsuit against Uniswap Labs and certain venture capital investors alleged violations of US securities laws by enabling the trading of ’scam tokens’ on the decentralized exchange (DEX) Uniswap. A central question in the case was whether Uniswap’s smart contracts constituted a contractual agreement under federal securities laws.

Cboe Seeks SEC Approval for Staking in Fidelity’s Ethereum ETF

Cboe BZX Exchange has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to allow staking for the Fidelity Ethereum Fund. The proposal seeks to enable the fund to stake its Ethereum holdings, which could enhance returns for investors by adding staking rewards. This move would make Fidelity’s Ethereum Fund one of the first U.S. ETFs to incorporate staking. Staking involves locking up cryptocurrency to support a blockchain’s operation, specifically Ethereum’s proof-of-stake system. Other firms, including Grayscale, are also seeking to incorporate staking in their Ethereum ETFs.