Ethereum’s Pectra Upgrade: A Glimpse into the Future of the Blockchain Network
As the cryptocurrency landscape continues to evolve, Ethereum stands at the forefront of innovation. With its upcoming Pectra upgrade slated for May 7, 2025, the network is poised to take a significant leap forward, enhancing its speed, security, and user experience. Here’s a closer look at what to expect from this highly anticipated upgrade.
Ethereum Developers Set May 7, 2025 for Pectra Upgrade Mainnet Launch
Ethereum developers have scheduled May 7, 2025, as the launch date for the network’s next major upgrade, Pectra. The decision was made after a successful test on the Hoodi testnet, which is now ready for the mainnet launch. Pectra combines Electra and Prague upgrades, featuring 11 Ethereum Improvement Proposals to enhance the network’s speed, security, and user experience. Notably, smart wallets will be introduced, making wallets easier to use and recover. EIP-7251 is another significant improvement that raises the staking limit per validator.
Ethereum (ETH) Price Prediction for April 2025
Ethereum (ETH/USD) price held a crucial support range between $1,755 and $1,800 as global markets faced trade wars. With a fully diluted valuation of about $217 billion and a 24-hour average trading volume of $15.7 billion, Ethereum rebounded above $1,800 on Friday. On-chain data shows whale investors have been actively buying Ether amid fears of further crypto capitulation and a potential global recession. Ethereum has underperformed Bitcoin despite the approval of spot Ether ETFs.
Bybit Partners with Zodia Custody for Off-Venue Settlement Amid Security Breach
Bybit has announced a partnership with Zodia Custody, backed by major financial institutions such as Standard Chartered and Northern Trust, to provide segregated custody and off-venue settlement for its institutional clients. This comes after Bybit suffered a security breach resulting in the loss of over $1.4 billion in liquid-staked Ether (ETH) and MegaETH (mETH). The incident has highlighted the security risks associated with on-exchange asset storage, leading to increased demand for independent custody solutions among institutional investors.
Ethereum Slides Below $2K, But History Hints at a Q2 Comeback
Ethereum has dropped nearly 10% in the past week and is now trading around $1,820. The broader crypto market lost steam after a strong start to the year, with Ethereum slipping below $3,000 and eventually breaching the $2,000 support level. This decline has strengthened bearish sentiment, but some analysts believe a major turnaround is coming. Crypto analyst Mister Crypto sees a historical pattern playing out, comparing Ethereum’s current price movements to its past trends. The Q2 average return for Ether is nearly 60%, but some warn of a potential drop to the $1,130–$1,200 range.
