@kaldira
Ethereum’s mainnet is scheduled for the Pectra upgrade on May 7, as confirmed by developer Tim Beiko. Announced on X, the upgrade aims to enhance scalability and reduce transaction costs, addressing long-standing network congestion issues. Coinbase and other exchanges will pause Ethereum deposits and withdrawals during the transition. Posts on X note growing accumulation by Ethereum whales, with holdings up 22% in two months despite unrealized losses. The upgrade could boost Ethereum’s price, currently at $1,797, though short-term volatility is expected. Vitalik Buterin’s proposal for a simpler Ethereum, inspired by Bitcoin’s consensus model, has sparked optimism for long-term adoption.
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