ETH Flips BTC on Hyperliquid as Ethereum Foundation Confirms Glamsterdam Upgrade Date

The Ethereum Foundation confirmed the public testnet date for the Glamsterdam upgrade. As a result, ETH has overtaken BTC in futures open interest on Hyperliquid on Tuesday.

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Ethereum Foundation Confirms Glamsterdam Sepolia Upgrade Date

In a blog post, the Ethereum Foundation announced that the Glamsterdam upgrade will activate on the Sepolia testnet at epoch 353,024 on October 6 at around 13:53 UTC. The foundation added that Hoodi and mainnet dates are still undecided.

Glamsterdam combines the Amsterdam execution layer upgrade with the Gloas consensus layer upgrade. Major changes include proposer-builder separation (ePBS) and block-level access lists (BALs), which change how blocks are produced and validated to support higher L1 throughput.

The Glamsterdam also adjusts gas accounting to better reflect resource usage, such as increasing and separately metering the cost of creating state as well as updating state-access costs.

Glamsterdam is framed as one of the largest L1 scaling upgrades since the Merge. The network will have higher throughput, more efficient validation, and a cleaner block production market.

As CoinGape reported earlier, the Ethereum Foundation targets to make the Layer 1 blockchain network quantum-resistant across execution, consensus, and data layers by 2029. After Glamsterdam, the Hegota upgrade will set the stage for it.

The Hegota upgrade is not a quantum-resistant fork. It is the upgrade that determines whether later post-quantum forks happen on time. Meanwhile, Vitalik Buterin remains optimistic on blockchain cybersecurity, rejecting claims that AI hacking can crash Bitcoin and Ethereum networks.

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ETH Flips BTC in Futures Open Interest

Ethereum has surpassed Bitcoin in perpetual futures open interest on Hyperliquid over the last 24 hours. Data revealed ETH open interest near $3.12 billion, rising more than 2.5% in 24 hours. Meanwhile, BTC open interest climbed 1.6% to $2.81 billion on Hyperliquid.

Investors are rotating to ETH amid factors such as spot Ethereum ETF inflows, bullish price predictions by analysts, and major Glamsterdam and Hegota upgrades. ETH/BTC has finally broken out of a nearly 5-year downtrend and is about to close its 3rd straight green month.

Experts, including Michael van de Poppe, Ali Martinez, and Peter Brandt expect ETH rally next. Whales and institutions are also buying ETH massively.

Coinglass data also showed ETH futures open interest rising almost 2% in the last 4 hours. ETH futures OI climbed more than 2% on Binance, 0.56% on CME, and 7% on Bybit.