- Ethereum core developers activated the Dencun upgrade on the Holesky testnet on February 7, 2024.
- Holesky is the last testnet before mainnet deployment.
- ETH price rose slightly on Wednesday morning, trading above $2,370.
Ethereum has activated the Dencun upgrade on the Holesky testnet, scheduled for release on Wednesday, February 7th at 6:35 AM ET.
Nethermind, an Ethereum running client, Confirmed We have deployed Dencun on the Holesky testnet.
Holsky 🤝 stain
Dencun has been published on Holesky testnet! Nethermind nodes are green 🟢Mainnet, you are next 🔜 pic.twitter.com/ZoQqxX4jnb
— Nethermind (@NethermindEth) February 7, 2024
This milestone brings Ethereum closer to proto-danksharding (EIP-4844), which aims to improve the network at the execution and consensus layers.
Equipped with data processing chunks, EIP-4844 aims to scale the network and lower transaction costs for ETH dApps. This is an important advancement that can potentially strengthen the network and layer 2 rollup chain.
The implementation is the final testnet before mainnet activation and will take place after deployment on the Goerli and Sepolia testnets on January 17 and January 30, 2024, respectively. Dencun’s mainnet activation date will be announced following a core developer meeting later today.
Ethereum price
After the successful activation of Dencun on Holesky, the price of ETH rose slightly.
As of this writing, the cryptocurrency is trading near $2,370, up about 2% in the last 24 hours. ETH has been volatile since hitting highs near $2,700 in January.
However, analysts are optimistic about the Ethereum price as they expect the cryptocurrency to see solid upward momentum over the next 12-24 months. Recently, analysts at Standard Chartered Bank said ETH could rise to $4,000 in May as the approval of the Ethereum ETF is one of the key tailwinds.