Key Notes
- Ethereum is all set to decommission Holesky testnet in November.
- New testnet Hoodi launched to replace Holesky and support future upgrades.
- Ethereum activity surges to 19.45M active addresses, near 2021 highs.
Ethereum
ETH
$4 382
24h volatility:
0.7%
Market cap:
$528.92 B
Vol. 24h:
$28.37 B
developers have confirmed the shutdown of the Holesky testnet, the network’s largest public testing ground, two years after its launch.
Launched in 2023, Holesky was designed to stress-test Ethereum’s proof-of-stake infrastructure at scale, providing a staging ground for upgrades like Dencun and Pectra that made transactions cheaper and validators more efficient.
At its peak, Holesky became the largest public testnet ever, powering thousands of validators. However, soon after Pectra went live earlier this year, Holesky suffered from inactivity leaks.
Validators dropped offline and created exit queues that stretched for months. For developers who needed fast feedback loops, the network became more of a bottleneck than a tool.
As a result, developers confirmed that Holesky will be fully decommissioned two weeks after the Fusaka upgrade finalizes in November. At that point, client, infrastructure, and testing teams will cease maintaining the network.
Hoodi and the New Testnet Era
Ethereum is not leaving developers stranded. In March 2025, the foundation rolled out Hoodi, a next-generation testnet designed to replace Holesky’s role while eliminating its pain points.
Hoodi introduces a refreshed validator set, supports all Pectra features, and is designed to handle upcoming updates such as Fusaka.
Meanwhile, Sepolia remains the primary testnet for dApps and smart contracts, while Ephemery offers quick-reset validator cycles every 28 days. Together, they form a fresh slate of environments for different testing needs.
Rising Network Activity and Institutional Flows
According to Everstake, 19.45 million active addresses interacted with Ethereum in August, the highest since May 2021’s peak of 20.27 million.
Institutional demand is also rising with Tom Lee’s BitMine now holding 1.71 million ETH in its treasury, a 12% increase year-to-date, while BlackRock’s Ethereum ETF recorded a $314 million inflow on August 25 and over $2.4 billion in daily trading volume.
Macro Tailwinds and Q4 Seasonality
Ethereum appears closely tied to global liquidity trends. As per the data shared by CryptoBusy, the second-largest cryptocurrency has moved from an accumulation phase into a clear bull run phase.
The analyst points to $4,520 as key resistance, suggesting that a breakout above this level could lead ETH to $4,800+ with increased strength in Q4.
It is interesting to note that Ethereum has historically shown seasonal Q4 rallies. As a result, ETH could be the best crypto to buy at current prices.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/ethereum-faces-major-shakedown-as-holesky-testnet-ends-can-q4-deliver/
