- Ethereum’s Pectra upgrade progresses with successful testnet launch.
- Ethereum price sees a 4% rise in 24 hours.
- Community response shows mixed sentiments on Pectra’s impact.
The Hoodi testnet activation marks a pivotal point in Ethereum’s transition toward the Pectra upgrade, providing a testing environment for validators. Market reactions are already evidenced by a 4% ETH price increase in the past 24 hours.
Hoodi’s launch on March 17 allows Ethereum stakeholders to thoroughly test Pectra features in a realistic setting, which should improve mainnet implementation. Ethereum Foundation encourages participation by staking operators and developers for comprehensive validation.
Market Effects and Community Sentiment
Market effects include a notable price increase to $1,964, reflecting positive investor sentiment. Etherscan shows Ethereum DeFi’s total value locked at $89 billion, a 25% decrease from the previous month.
The Hoodi testnet for Pectra was successfully launched on March 17, 2025. Pectra upgrades are scheduled to activate on Hoodi on March 26, 2025 at 07:37:12 UTC. Staking operators and infrastructure providers are encouraged to use Hoodi for future validator testing. – Ethereum Foundation Blog, Official Update, Ethereum Foundation
The Ethereum community showcases mixed reactions on forums, balancing excitement and caution. As reported by Tim Beiko, developers are urged to test the upgrade and address any potential issues, ensuring a smoother mainnet transition.
Ethereum’s Price Trends
Ethereum’s current price data shows a $1,964 trading value, with increases aligning with past market movements. This price trend appears consistent with seasonal trading patterns, indicating stabilized investor confidence.
Experts predict possible technological and financial implications post-upgrade, considering competition from layer-2 solutions like Standard Chartered’s downward forecast. The community remains alert to Ethereum’s evolving market role and regulatory landscape.
