On Wednesday, Ethereum’s developers successfully deployed the Pectra upgrade on the Sepolia test network. The upgrade will reportedly introduce 11 Ethereum Improvement Proposals (EIPs) and could improve staking, wallet functionality, and overall network efficiency.
According to Ether developer Terence Tsao, Pectra went live on Sepolia at 7:29 a.m. UTC today, completing the second test phase with a perfect proposal rate. This deployment came against the backdrop of a failed attempt on Ethereum’s Holesky testnet last week, where a misconfiguration among validators led to a chain split, temporarily rendering Holesky unusable.
Testnets serve as experimental environments for developers to test upgrades without risking real assets. Holesky, with its validator structure closely resembling Ethereum’s mainnet, was expected to be the mainnet-equivalent testing ground for Pectra.
Still, with only Sepolia’s successful deployment so far, developers are in discussions of whether additional testing is required before moving forward with a mainnet release.
Responding to several queries about the failed testnet attempts, developer Tsao said it could take at least 18 more days to finalize the Holesky upgrade because issues related to “correlation penalties” and “validator balance drains” are still under investigation.
Ethereum developers debate on Pectra mainnet deployment timeline
Ethereum developers are scheduled to meet on March 6 at the All Core Developers (ACD) call to discuss the timeline for Pectra’s full integration on the blockchain network’s mainnet.
The Ethereum Foundation had previously stated that both the Holesky and Sepolia testnets needed to be successfully upgraded before determining a mainnet activation epoch. But Pectra-Holesky’s hiccups have ignited talks about developers delaying the upgrade to ensure network stability.
One of the proposals included in Pectra is EIP-7251, which significantly increases the maximum staking limit from 32 ETH to 2,048 ETH. The change will effectively help Ethereum’s staking system reduce the need for large validators to split their stakes across multiple nodes.
Currently, those staking more than 32 ETH must distribute their holdings among multiple validator instances, which makes the whole process a tall order.
Ethereum’s Prague upgrade, part of Pectra, lands April 2025. Big changes for $ETH ahead! Read foloowing thread 🧵👇 pic.twitter.com/sykVaO4pVz
Another proposal set for changes is the EIP-7702, which allows standard Ethereum wallets to temporarily function as smart contract wallets. It enables users to batch multiple transactions into one through gasless transactions and set up custom security rules.
For layer-2 solutions, Pectra brings lower fees through improved data storage. Rollups, which rely on “blobs” to store transaction data, will benefit from a doubling of blob storage capacity. The change, introduced through EIP-7691, will supposedy improve transaction processing by lowering costs and increasing speeds for users operating on layer-2 networks.
In an X post today, Former WazirX vice president Sandesh Suvarna said Pectra will help devs access new cryptographic tools designed to lower the cost of verifying signatures and transactions.
Survana brought up the EIP-2537 proposal. If passed, it would lower the gas costs for BLS signature verification and zkSNARK proofs. This would allow for more advanced cryptographic applications on Ethereum.
Ethereum’s market consolidation continues
At the same time, there are still a lot of sellers in the Ethereum market, which is keeping its price in the same 3-month-long consolidation phase. Coingecko updates say that the crypto is now selling at $2,241, which is an increase of 7.3% in the last 24 hours. However, its momentum is still slightly negative at -2.86%.
The current market structure suggests there’s an ongoing accumulation of tokens, evident from the declining volatility and moderate selling exhaustion visible on technical indicators, per TradingView’s analysis.
The Relative Strength Index (RSI) sits at 34.77, indicating oversold conditions but lacking a clear divergence signal. The Moving Average Convergence Divergence (MACD) shows bearish momentum weakening, though sellers still maintain control.
Moreover, the Directional Movement Index (DMI) suggests a non-trending, consolidative phase, with a low Average Directional Index (ADX) reading of 10.5.
Ethereum’s primary support level is at $2,082, a price market analysts have coined as a strong demand zone. On the upside, resistance is set at $2,300, which is a level that needs to be breached for a bullish momentum to start. A close below $2,057 on high volume would invalidate the current support structure, potentially creating a path to more downside movement.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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