Ethereum (ETH) The price has improved after the Kintsugi test launch took an important step towards ETH 2.0. The testnet is now live and users can test the combination of Proof-of-work with the Proof-of-stake system. The launch addressed Ethereum’s scalability issues and took an important step towards opening the environment to a wider user base.
Ethereum price struggled to survive the crypto market crash in the first week of December. The new development in altcoin triggered a strong recovery in Ethereum price.
Ethereum returns above $4,000 with Kintsugi launch
Ethereum opened its new testnet, Kintsugi, to its users. The testnet emulates the Ethereum blockchain without affecting the post-merge activity. Kintsugi test net, one of the last steps on the altcoin’s “merger” path, and attempts an important phase of the transition from Proof-of-Work (Pow) to Proof-of-Stake (PoS).
Ethereum developer Tim Beiko made the announcement on Twitter.
Users can test all the features of the new upgrade in a controlled environment. This is Ethereum’s public domain ETH2.0 It’s the first upgrade on its way.
Over the past few months, client teams have been working tirelessly to implement a new set of merge milestones. They are now live on a new testnet: Kintsugi 🍵!
Here’s how you can join the testnet and help with testing: https://t.co/ARDezguzXE 👀
Christmas came early🎄!
— Tim Beiko | timbeiko.eth 🍵 (@TimBeiko) December 20, 2021
The Ethereum community can now become familiar with the post-merge interface using the Kintsugi testnet. Ethereum developers have also released a guide to users for the new interface.
You want to start with #TestingTheMerge but don’t know how? @YashKamalChatu1 wrote a really nice explainer on how to get some testnet ether on Kintsugi and to send transactions.
Why not check it out and deploy your favorite DApp on the testnet!https://t.co/U3mvVk2kNB
— MariusVanDerWijden (@vdWijden) December 20, 2021
In response to this posted upgrade, the Ethereum price climbed back above $4,000. Analysts are optimistic about the altcoin’s recovery.
Crypto analyst Mark Cullen has a “bullish” outlook on Ethereum price. The analyst explained that in his latest analysis, he predicted that Ethereum would break out.
— $ETH UPDATE —
🔹#Ethereum looking like it wants to take out the down trend & break back above the major trend line
🔹Will wait for a 4hr close above for confirmation & a retest of the red box before adding leverage
🔹Maybe that #santarally is coming, stay #SAFU#Crypto https://t.co/fkVvDtzIYw pic.twitter.com/qjgh3yilj1— AlphaBTC (@mark_cullen) December 21, 2021
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