NFT

The BAYC Floor Price Of The Ethereum Goerli Testnet Reached 45 ETH

Key Points:

The floor price of the Ethereum Goerli testnet version of BAYC BoredApeYachtClub – GOERLI – TEST has hit 45 ETH.
By offering an open market for instantaneous pricing of ETH/GOERLI-ETH, LayerZero developed a Testnet Bridge last week in an effort to address the problem of testing systems at scale.
Arguments have broken out in the cryptocurrency world over this testnet bridge and the rising testnet ETH price.

On February 27, the floor price of the Ethereum Goerli testnet version BAYC BoredApeYachtClub-GOERLI-TEST reached 45 ETH, and the current total transaction volume has reached 53,741 ETH, with 3,662 holders.

Prior on February 22, LayerZero launched a test bridge to realize the exchange of ETH between the main network and the Goerli test network.

Goerli, sometimes spelled Görli, is one of Ethereum’s most well-known testnets and was first released in September 2018. Together with Sepolia, it is one of the two main testnets that has not been deprecated. The Goerli testnet was first developed as part of an ETH Berlin hackathon, but it wasn’t until early 2019 that the testnet was formally introduced at GörliCon in Berlin.

Developers had one more chance to check that their PoS validators were set up properly before the mainnet switched to PoS with Goerli’s merge and PoS transition. Also, it served as the last trial run before the actual fusion of the Ethereum mainnet and Beacon Chain.

Two pools, one on the mainnet (ETH/Goerli-ETH) and the other on the Goerli testnet (Goerli-ETH/Mainnet-ETH), are listed by LayerZero through the Testnet Bridge. Users can exchange mainnet ETH for Goerli-ETH or the other way around.

It provides a monetary value to Goerli-ETH. The starting price of Goerli-ETH is $0.1. Developers on Ethereum may easily purchase Goerli-ETH on the testnet thanks to the marketplaces, avoiding the need to rely on Goerli faucets. The protocol refers to the bridge as “public goods.”

At present, the price of Goerli-ETH has reached $0.28 on the testnet cross-chain bridge.

Yet not everyone concurs with the assertion. ChainSafe co-founder and former Eth Core Dev member Gregory Markou said:

“This is not a public good. This is harmful. Ethereum does not have a canary network, and you’re creating value on a network that hasn’t had thoughtful economics.”

This testnet bridge and the ever-increasing testnet ETH price have sparked debate in the cryptocurrency community.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.