: “Recent Developments and Outlook for Ethereum and Goerli Network Upgrade”
At the time of writing this report, the value of ETH has risen by 2.22% over the past 24 hours, reaching $2076. Verification of the scenario presented by the TD sequence suggests a potential return towards the $2000 mark for the second largest cryptocurrency by market capitalization.
Cryptocurrency analyst Ali sheds light on the likelihood of a price regression towards $2000 for Ethereum, according to the TD sequence known for its accuracy in predicting ETH price movements on the four-hour chart. A significant sell signal has been indicated at a key resistance level. If this signal persists, ETH may decline towards the $2000 price point, representing a short-term 5% decrease.
The top ten exchange wallet holdings have reached their lowest level in six months at 8.03 million Ether, while non-exchange wallet holdings have surged to an all-time high of 41.03 million Ether, reflecting a shift towards self-custody. Despite this, the largest wallets continue to form an encouraging pattern, according to sentiment analysis.
Ethereum developers have announced a significant update regarding Goerli, the first multi-client test network for Ethereum, to be launched by client test teams and the Ethereum Foundation in the coming months. The Dencun network upgrade will serve as the final network upgrade. The aforementioned teams will begin to exit their verification tools three months after activating Goerli Dencun, or one month after activating the main Dencun network, whichever comes later.
Users of Goerli are advised to consider transitioning to another stable test network before this time. While spatial verification in Goerli is not allowed, auditors from client and test teams constitute the vast majority of the stake. As a result, their exit will impact network stability.
Additionally, the teams intend to seize the opportunity to test late-stage, non-activity leaks, and bulk cuts. Developers of applications and tools are encouraged to use Sepolia for testing decentralized applications, smart contracts, and other EVM features.
READ MORE Forbes Magazine announced that the upcoming edition of its annual 30 Under 30 report will be released on the Ethereum blockchain network.
Stakeholders and interested infrastructure providers at the protocol level are advised to use the recently released Holesky test network. They should also consider using the Ephemery test network to test the validity verification tool configuration. Currently, Goerli is expected to be the first test network to activate the Dencun upgrade.
Important Notice: The content of this article is for informational purposes only and should not be construed as financial advice. Chinwa.tech assumes no responsibility for any investment decisions made based on the information provided herein. It is strongly advised to seek the guidance of a qualified specialist or financial advisor before making any investment choices.
