Ethereum Developers to Launch Pectra Upgrade Mainnet on May 7
Ethereum developers confirmed that the launch date for the Pectra upgrade mainnet will be May 7, 2025.
The upgrade, which was built around 11 Ethereum Improvement Proposals (EIPs), seeks to improve several key areas, including wallet functionality.
Pectra Upgrade Merges Electra and Prague
During the core developer Consensus Layer Meeting (154) call on April 3, Ethereum’s development team confirmed the successful completion of the third and final dry run of the Pectra upgrade on the Hoodi testnet.
This marked a milestone, as the team could resolve previous bugs that had caused delays in earlier testing phases. With these issues now addressed, the Hoodi testnet is officially ready to transition to the mainnet.
Pectra is a highly anticipated upgrade in the Ethereum ecosystem, designed to combine two important previous upgrades, Electra and Prague, into one unified release. This integration will provide a more efficient upgrade that will push the network forward in its drive toward scalability, security, and improved user experience.
One of the major changes that comes with this upgrade is the introduction of smart accounts, which will provide Ethereum wallets with greater recovery options in an instance where users lose access.
These changes would improve the overall Ethereum experience by making wallets easier to manage, especially for non-technical users.
Staking and Scalability Cap will be Increased
One of the most impactful features of the Pectra upgrade is its changes to Ethereum’s staking model and scalability.
The EIP-7251 would raise the staking cap from 32 ETH to 2,048 ETH, opening the door for more institutional involvement in Ethereum staking. This increase in the staking cap will bring more liquidity into the Ethereum network, as institutional players can now participate more meaningfully, which adds more stability to the network.
Meanwhile, EIP-7691 will focus on scalability, a key area of development for Ethereum. This EIP will increase the maximum blob count, directly improving the performance of rollups.
Rollups have become vital for Ethereum’s growth. They allow transactions to be processed faster and at lower costs while still relying on Ethereum’s security. With the additional time before the Pectra upgrade goes live, Ethereum developers ensure every aspect of the upgrade is thoroughly tested.
ETH Price Drops 45% of Its Value in 2025 So Far
In the crypto market, positive news often has an impact on a crypto asset’s price value. For example, the launch of Bitcoin ETFs soared BTC prices to new peaks. When President Trump assumed office on January 20, the BTC price hit an all-time high of around $109,000 due to his previous pro-crypto campaign promises. However, Ethereum has failed to reflect this narrative, despite the upcoming Pectra upgrade. Since the start of the year, the ETH price has dropped by 45.4%, as it currently trades at $1,778. The huge loss makes Ethereum one of the worst-performing cryptocurrencies on the list of largest crypto assets.
ETH price has lost 6.72% in the past 7 days| Source: CoinMarketCap
The decline can be linked to the increasing competition that Ethereum faces from other smart contract platforms, such as Solana (SOL). The broader market trends have also affected ETH prices. At press time, the CryptoFear and Greed Index is at 28, which signals a widespread decline in investor sentiment. This shift in sentiment came in the wake of former U.S. President Trump’s announcement of sweeping tariffs, known as the “Liberation Day” plan.
The plan introduced a 10% baseline tariff on all imports, with even higher rates for countries like China, Vietnam, and the European Union. As predicted by some analysts, there was a sting. The announcement rattled global markets, including the cryptocurrency sector, as the entire market capitalization dropped by 4%.
Despite the continuous decline, all hopes may not be lost for Ethereum. Big Cheds, a crypto analyst and trader, pointed to the $1,200 price level as a key support zone for ETH. According to his projection, if ETH’s price bounces off this level, there may be a potential mid-term rally. Cheds believes that the asset can move toward the $3,400 range, which represents a 283% gain. This potential rebound could coincide with the upcoming Pectra upgrade, which may fuel ETH’s price if it delivers on the promised scalability and other functionality improvements.
