Start of the End? Testnet Goerli Ether Spikes to $1.60 as Traders Jump on Opportunity Meant for Developers

Prices of Goerli ether (gETH) spiked to over $1.60 over the weekend, rising from 7 cents last Friday and reaching a market capitalization of as much as $15 million.

Data from DEXTools shows that nearly a million dollars worth of gETH was traded in the past 24 hours, with 3.79 million total gETH in circulation and 1,260 token holders at press time.

But goerli ether is no trendy Ethereum fork or an Ethereum rival marked up by hypemen: These tokens are a testnet version of actual ether for developers to simulate transactions, smart contacts, and other activities prior to deploying on the Ethereum mainnet. This means that these tokens are supposed to be free – issued simply for testnet developers.

As such, the gETH price spike has ended up attracting criticism from the crypto community.

(By Shaurya Malwa)

Get the latest news here: Cointime channel — https://t.me/cointime_en

Guarded Ether $3,620.96

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