Kite secures $18 million in funding led by PayPal and General Catalyst

Adding crypto to Ukraine’s reserves is not a good idea, according to the country’s monetary authority, which indicated it has no intention to support it. Such a move may undermine the Eastern European nation’s integration with the EU and clash with IMF requirements, warned a member of the regulator’s management. NBU turns back on crypto […]

The Ethereum Holesky shutdown has officially been confirmed, marking the closure of the network’s largest testnet. The Ethereum Foundation announced that Holesky will sunset following the Fusaka upgrade, paving the way for developers to migrate to the newer Hoodi testnet.  Timeline of Closure and Holesky’s Role in Ethereum Testing According to the foundation, the Ethereum Holesky shutdown will occur two weeks after the Fusaka upgrade finalizes on Holesky. Although an exact date has not yet been determined, the closure is expected to happen in the second half of September, well ahead of Fusaka’s mainnet launch scheduled for November. After this point, Holesky will no longer receive support from infrastructure, client, or testing teams. Launched in September 2023, Holesky was built to serve as Ethereum’s largest validator and staking testnet. It played a central role in allowing thousands of validators to test major upgrades, including the Dencun and Pectra forks. By providing a realistic environment for validator lifecycle testing, Holesky ensured that critical features were trialed before being deployed on the mainnet. The Ethereum Holesky shutdown now concludes this two-year experiment. Source: X Technical Challenges That Led to Closure While Holesky delivered important contributions, its limitations became clear in early 2025. The network suffered extensive inactivity leaks that created months-long validator exit queues. These delays made it difficult to test validator operations effectively, frustrating developers who needed quick feedback.  Also read: Ethereum’s Holesky Testnet Restores Finality, Pectra Testing Resumes Although the network recovered, confidence had eroded. The Ethereum Holesky shutdown was therefore a practical solution to prevent further inefficiencies and redirect resources to more reliable testnets. Hoodi Testnet as the New Successor To address Holesky’s shortcomings, the Ethereum Foundation launched the Hoodi testnet in March 2025. Designed as a clean-slate environment, Hoodi eliminates prolonged validator queues and supports fast development cycles.  It already runs the Pectra update and will also support the upcoming Fusaka fork. The Ethereum Holesky shutdown effectively transfers staking and validator testing responsibilities to Hoodi, which is now positioned as the primary network for these operations. Role of Sepolia and Ephemery in the Ecosystem The transition does not leave developers without options. Sepolia continues to serve as the main testnet for decentralized applications and smart contract testing. Meanwhile, Ephemery provides rapid-reset validator cycles every 28 days, offering flexibility for short-term experiments.  Importance of the Fusaka Upgrade Central to Ethereum’s upcoming roadmap is the Fusaka upgrade, scheduled for November 2025. Fusaka introduces 11 Ethereum Improvement Proposals designed to enhance rollup efficiency, distribute data workloads more evenly, and reduce transaction costs.  By simplifying node operations, Fusaka aims to make the network more decentralized and scalable. The Ethereum Holesky shutdown ensures that developers’ efforts are concentrated on testnets capable of fully supporting Fusaka’s requirements. Looking further ahead, the Ethereum community is preparing for the Glamsterdam upgrade, expected in 2026. Proposed under EIP-7782, Glamsterdam seeks to halve block times to six seconds and separate block validation from execution, thereby enabling more efficient zero-knowledge proof generation.  Market Implications and Community Response The Ethereum Holesky shutdown has been met with understanding from both the community and the market. While some developers expressed nostalgia for Holesky’s role, most acknowledge that Hoodi offers a stronger, faster, and more reliable testing environment.  The broader market has reacted positively to Ethereum’s steady pace of upgrades. ETH prices have risen more than 200% since April as institutions increase their exposure to the asset. Conclusion The Ethereum Holesky shutdown represents a significant turning point for Ethereum’s testing ecosystem. Holesky served its purpose by enabling large-scale validator testing and major upgrade trials, but its technical flaws made long-term use unsustainable.  By shifting focus to Hoodi, alongside Sepolia and Ephemery, Ethereum is ensuring that its testnet landscape is both reliable and efficient. This transition highlights the foundation’s long-standing commitment to building a network that balances scalability, decentralization, and user experience. Also read: Vitalik Just Proposed a Radical Shift for Ethereum’s Future Summary The Ethereum Holesky shutdown ends the network’s largest validator testnet. It closes after two years of service due to technical challenges. Developers will now migrate to Hoodi, a faster and more reliable successor. Hoodi is built to support upcoming upgrades like Fusaka.  Sepolia and Ephemery will remain active for dapp and short-cycle testing. The move streamlines Ethereum’s testnet ecosystem. It reinforces the network’s focus on scalability, decentralization, and user experience. It also prepares Ethereum for future upgrades. Appendix: Glossary of Key Terms Ethereum Holesky Shutdown – Planned closure of Ethereum’s largest validator testnet. Hoodi Testnet – A new environment replacing Holesky for validator testing. Fusaka Upgrade – Ethereum’s upcoming fork aimed at scaling rollups. Sepolia Testnet – Primary testing ground for dapps and smart contracts. Ephemery Testnet – Short-cycle testnet with 28-day validator resets. Pectra Update – A recent protocol upgrade trialed on testnets. Dencun Upgrade – A major past Ethereum upgrade supported by Holesky. FAQs for Ethereum Holesky shutdown 1-Why is the Ethereum Holesky shutdown happening? The shutdown addresses persistent technical issues, including validator inactivity leaks and impractical exit queues, which made Holesky less efficient for testing. 2- What replaces Holesky after the shutdown? Hoodi testnet now serves as the main environment for validator and staking provider testing, while Sepolia remains the primary dapp testnet. 3- When will the Ethereum Holesky shutdown occur? It will take place two weeks after the Fusaka upgrade finalizes on Holesky, expected in September 2025. 4- Will the Ethereum Holesky shutdown affect dapp developers? No. Developers testing smart contracts should continue using Sepolia as recommended by the Ethereum Foundation. Read More: Ethereum Closes Holesky Doors: Will Hoodi Deliver?">Ethereum Closes Holesky Doors: Will Hoodi Deliver?

Few milestones in crypto capture attention like the fabled $1 target. For meme coins, hitting this level has always been symbolic — proof that community energy and speculative fervor can turn jokes into generational wealth. Recently, analysts have revisited the question: Can Pepe Coin (PEPE) ever reach $1? The conclusion from many experts is sobering. […]