Ethereum News: Developers Launch New Testnet for Pectra Upgrade

Ethereum developers have announced the launch of a new testnet, Hoodi, aimed at addressing challenges associated with the upcoming Pectra upgrade. Here’s a closer look at what this means for the future of Ethereum.

Ethereum Devs Launch New Testnet for Pectra Upgrade

Ethereum (ETH) developers are set to launch Hoodi, a new long-lived testnet, on March 17 to resolve ongoing challenges with the highly anticipated Pectra upgrade. The testnet will focus on validator exit mechanisms, one of the final hurdles before Pectra can move forward. Broader testing will continue on Ethereum’s Sepolia and Holesky testnets. The Pectra upgrade aims to improve staking operations, enhance execution and consensus layers, and introduce key optimizations for Ethereum validators. However, the upgrade has faced repeated delays due to client readiness issues, synchronization bugs, and infrastructure concerns.

ETH Price Nears $2,250 Resistance As Exchange Supply Hits Record Low

Ethereum (ETH) price is approaching a critical resistance zone amidst shifting market dynamics. On-chain data indicates that Ethereum’s supply on exchanges has reached an all-time low, suggesting that investors are holding their ETH rather than selling, which is often considered a bullish sign. This trend coincides with a 3% price increase on Tuesday, fueled by Fidelity’s ETF staking proposal. Before the SEC approved U.S. spot Ethereum ETFs in July 2024, issuers had removed staking from their filings due to regulatory pushback. However, with recent changes in the SEC’s leadership, the agency’s stance may be evolving.

Chainalysis Expands DeFi Capabilities with Ink Integration

Chainalysis, a leading blockchain analysis firm, has announced its integration with Ink, a decentralized finance (DeFi) oriented Ethereum layer 2 solution developed by Kraken. This integration enhances compliance and investigative workflows with automatic token support and advanced transaction monitoring for ERC-20, ERC-721, or ERC-1155 standard tokens.

R0AR Supports Seamless Smart Contract Migration for Ethereum Developers

R0ARchain offers Ethereum developers lower fees, faster speeds, and a thriving DeFi ecosystem for smart contract migration. The decentralized finance project aims to develop one of the most developer-friendly Layer-2 Ethereum scaling solutions, encouraging developers to migrate their smart contracts from Ethereum to R0ARchain for simplicity and cost-effectiveness.