Home Crypto News Ethereum tests 200M gas limit as $165M longs get wiped: can ETH hold $2,500?
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Ethereum tests 200M gas limit as $165M longs get wiped: can ETH hold $2,500?

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Ethereum’s Glamsterdam upgrade went live on the Sepolia testnet Tuesday, marking another milestone in the network’s Layer 1 scaling roadmap.

The deployment allows developers, application teams, and infrastructure providers to test compatibility with the changes before a potential mainnet release.

Meanwhile, ETH’s technical structure remained constructive in the supplied market snapshot, although derivatives liquidations highlighted pressure on leveraged long positions.

Glamsterdam begins Sepolia testing after Prysm update

Ethereum community contributor Pooja Ranjan confirmed the Sepolia launch in a post on X.

https://twitter.com/poojaranjan19/status/2107469936884879637

Testnets provide environments where developers can evaluate network changes and identify compatibility problems before deploying them on mainnet.

Glamsterdam combines the Amsterdam execution-layer upgrade with the Gloas consensus-layer upgrade. It includes 18 core Ethereum Improvement Proposals and seven supporting networking and informational proposals.

Ahead of activation, Ethereum client Prysm released a last-minute update to automatically apply the new gas limit for Sepolia validators.

The deployment now allows ecosystem participants to assess how their software and services perform under the upgraded rules.

Two central components of Glamsterdam are enshrined proposer-builder separation, or ePBS, and block-level access lists, known as BALs.

According to the Ethereum Foundation, these changes lay the groundwork for higher execution capacity while keeping block verification practical for node operators.

The upgrade also increases the gas limit from 60 million to 200 million. Gas measures the computational work required to execute Ethereum transactions, and a higher limit allows more work to fit within each block.

That creates capacity for additional transactions and more complex computations, although actual transaction throughput depends on the workload being processed.

If the upgrade performs reliably on Sepolia, developers will determine a deployment date for the Hoodi testnet before considering mainnet activation. The supplied report does not identify a confirmed mainnet launch date.

Separately, Ethereum co-founder Vitalik Buterin discussed the relationship between AI and blockchain applications at the OKX NOW event Tuesday.

https://twitter.com/WuBlockchain/status/2107682331326660991

He said onchain applications are likely to become increasingly integrated with AI over the next two years, with bots potentially handling most front-end interactions.

Buterin also noted that AI introduces structural changes. His remarks point to a potential shift in how users access blockchain services as automated systems take on more interactions.

Ethereum recorded $175.1 million in liquidations over the preceding 24 hours, according to CoinGlass figures.

Long liquidations accounted for $164.91 million of that total, indicating that bullish leveraged positions bore most of the losses.

Despite that pressure, ETH remained above its 20-day, 50-day, and 100-day exponential moving averages in the supplied daily-chart analysis.

The 14-day Relative Strength Index hovered around 60, suggesting positive momentum without reaching conventional overbought territory.

ETH price outlook: Ethereum drops below the $2,656 support 

The ETH/USD daily chart remains bullish despite dropping below the immediate support at the 20-day EMA near $2,656. 

Dropping below that level now makes it tougher for the bulls to reclaim the resistance around $2,781.

However, if the bulls reclaim the $2,781 resistance, it would bring higher resistance levels at $3,075 and $3,260 into focus.

On the downside, by losing the 20-day EMA horizontal support at $2,631, the bears would likely seek to push ETH lower towards $2,558. 

The 50-day EMA near $2,500 provides another reference point if selling intensifies. Further support lies at $2,363, followed by the 100-day EMA around $2,329.

The post Ethereum tests 200M gas limit as $165M longs get wiped: can ETH hold $2,500? appeared first on Invezz

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