Ethereum is gearing up for its Pectra upgrade by launching the Hooli testnet, following two previous testnets that faced technical issues. If successful, Pectra could be implemented on the mainnet by April 25, 2025. Despite the upgrade news, Ethereum's price remains stable, hovering just above $1,900, with a 13.3% decline over the past week. The upcoming upgrade aims to improve scalability, reduce fees, and enhance staking flexibility, increasing staking limits from 32 to 2,048 ETH. The upgrade also allows gas fee payments in multiple tokens and introduces third-party fee sponsorship. This preparation comes in the wake of Ethereum's challenges in maintaining its market dominance, losing 52% of its market cap share over the past year.

Source đź”—