Ethereum Shuts Down Holesky Testnet – But Something Bigger Is Coming

The decision comes just as activity on the Ethereum mainnet reaches its highest levels in more than three years.

Holesky played a central role in testing updates such as Dencun and the more recent Pectra hard fork. But persistent issues with validators after Pectra went live earlier this year caused long exit queues and made the testnet less practical for developers.

Support will officially end two weeks after the Fusaka upgrade completes in November, at which point infrastructure teams will no longer maintain it.

To fill the gap, Ethereum rolled out Hoodi in March 2025. This new environment introduces a refreshed validator set, full support for Pectra, and compatibility with upcoming upgrades, including Fusaka. While Hoodi is expected to handle large-scale validator testing, Sepolia will remain the go-to environment for dapp and smart contract developers.

Meanwhile, network usage on Ethereum has accelerated. Data from Everstake shows 19.45 million monthly active addresses in August, the highest level since May 2021. Analysts say this growth underscores Ethereum’s expanding role across DeFi, NFTs, and staking.

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Institutional involvement has also deepened. Tom Lee’s BitMine disclosed holding 1.71 million ETH in its treasury—up 12% since early 2025—while BlackRock’s spot Ethereum ETF recorded $314 million in inflows on August 25 and traded more than $2.4 billion in a single day.

Futures markets tell a similar story. Open interest on CME Ethereum contracts climbed above $10 billion for the first time, with the number of large open interest holders reaching a record 101. According to Everstake, the surge is not only a sign of user re-engagement but also proof of an ecosystem that continues to broaden in scope and depth.

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