Ethereum launches Pectra test on Hoodi

Ethereum developers on Wednesday successfully activated the Pectra upgrade on the new Hoodi test network. This is believed to be the final step before the upgrade is rolled out on the Ethereum mainnet in the second quarter of this year.

Earlier, the developers had tested the Pectra upgrade in the Holesky and Sepolia test environments. However, repeated problems occurred there, so it was decided to set up a new test net. This led to a further delay of the launch on the mainnet.

The new Hoodi test grid should provide a fresh start and provide a suitable environment to retest the update. Hoodi will additionally permanently replace Holesky, which will be phased out later this year.

During an earlier consultation, the developers indicated that Pectra could be activated on the mainnet about 30 days after its launch on the Hoodi testnet, provided no major problems occur - so possibly by the end of April.

However, the launch on the mainnet could also take place later, in May or June, to give stakeholders more time to prepare.

Ethereum investors hope the Pectra upgrade will give new impetus to the ETH's share price, which has lagged sharply behind Bitcoin and rival Solana since mid-2024. The second-largest cryptocurrency is currently in a real crisis.

Although the ETH price is stabilizing around US$2,000 at the time of writing, another drop toward US$1,750 is not out of the question.

Nevertheless, large investors with a long-term view already seem to see opportunities and are taking advantage of the lower prices to expand their positions. According to data of Lookonchain are wales accumulating ETH. One of them bought 7,100 ETH at one time - converting about $14 million.