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- Holesky testnet will retire after Fusaka upgrade; Hoodi replaces it.
- ETH active addresses hit 19.45M, highest since 2021.
- Institutional and retail activity indicates Ethereum’s growing Web3 dominance.
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Ethereum has confirmed that it will shut down its largest public testnet, Holesky, two years after its launch. The move comes amid record levels of ETH active addresses, signaling renewed developer and investor interest in the network.
Holesky Testnet Decommissioned After Two Years
Launched in 2023, Holesky was Ethereum’s primary testing ground for staking and validator operations. It played a critical role in evaluating upgrades such as Dencun and Pectra, which went live in May 2025. However, technical challenges, including validator outages and long exit queues, reduced the testnet’s usefulness earlier this year.
Ethereum plans to decommission Holesky two weeks after the upcoming Fusaka upgrade in November. After this, client, testing, and infrastructure teams will no longer maintain the network. Developers are being encouraged to transition to Hoodi, the new testnet introduced in March 2025. Hoodi fixes the issues Holesky faced, supports Pectra fully, and is prepared for future upgrades. For smart contract and dapp development, Sepolia remains the primary environment.
ETH Active Addresses Reach New Heights
Ethereum’s ecosystem is showing strong growth. Data from Everstake shows 19.45 million monthly active ETH addresses in August—the highest since May 2021, when addresses peaked at 20.27 million. This includes wallets participating in DeFi transactions, NFTs, transfers, and staking, highlighting the network’s broad usage.
Investors are also signaling confidence in Ethereum. Tom Lee’s BitMine increased its holdings to 1.71 million ETH, a 12% rise this year. BlackRock’s Ethereum ETF recorded a $314 million inflow on August 25, with trading volumes surpassing $2.4 billion in a single day. CME Ethereum futures also hit record open interest of over $10 billion, demonstrating strong institutional activity.
Also Read: Tron Overtakes Ethereum: 2.48M Active Wallets Make TRX the Silent Giant
Ethereum’s Growing Influence in Web3
Analysts suggest these developments underscore Ethereum’s dominance as a platform for Web3 applications and decentralized finance. According to Everstake, the rise in active addresses is “not just a sign of renewed user interest, but also evidence of an expanding ecosystem,” fueled by developers and institutional investors alike.
As Holesky retires, Ethereum is positioning itself for a more robust and scalable testing environment with Hoodi, while network activity and investment continue to rise.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
