Ethereum Developers Set May 7 for Pectra Upgrade After Successful Testing

The decision was finalized during an Ethereum core developer call on April 3, marking the end of the upgrade’s testing phase.

Hoodi, the third and final testnet for Pectra, encountered earlier delays due to bugs, but with those issues now resolved, the network is ready for deployment on the Ethereum mainnet.

Pectra merges two planned upgrades, Prague and Electra, into a single release, introducing 11 Ethereum Improvement Proposals (EIPs) designed to enhance the network’s speed, security, and overall user experience.

Among the key updates is an improvement that enables Ethereum wallets to function as smart accounts, making account recovery easier for users who lose access.

Another major change, EIP-7251, raises the maximum staking limit per validator from 32 ETH to 2,048 ETH. This adjustment is expected to streamline staking for institutions and large holders, allowing them to manage fewer validator nodes while maintaining high staking volumes.

Other enhancements include Peer Data Availability Sampling, which allows nodes to validate transactions without storing full data sets. Verkle Trees – improving data storage efficiency across the Ethereum network.

While Ethereum continues to advance technologically, its market performance has been underwhelming. As of now, ETH is trading at $1,804, reflecting a 45% drop in Q1 2025.

Ethereum’s transaction fee revenue has also declined sharply, dropping from $142 million in January to $21 million in March, according to DeFiLlama data . Additionally, Ethereum’s burn rate has hit its lowest level since August 2021, and despite EIP-1559’s deflationary mechanism, the network’s total supply has grown by 3%.

Despite these setbacks, Ethereum outperformed competitors BNB Chain and Solana in decentralized exchange (DEX) volume during March, processing $64 billion in trades. Developers hope that the Pectra upgrade will attract new users and restore investor confidence, positioning Ethereum for a stronger recovery in the coming months.

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