The long-awaited Pectra update for Ethereum is now live, implementing 11 proposals for improving Ethereum on the mainnet. The network crossed the upgrade slot at 10:05 Coordinated Universal Time (UTC) and reached finality approximately 12 minutes later, overcoming the last hurdle after two tumultuous test launches.
The main change, EIP-7251, raises the effective balance of each validator from 32 ETH to 2,048 ETH, allowing large staking providers to consolidate thousands of nodes and reduce bandwidth costs. Pectra also implements EIP-7702, which allows externally managed accounts to temporarily execute smart contract code. This feature opens up the possibility of paying gas fees in stablecoins, subscription-style transfers, and wallet recovery tools. Nine additional EIPs focus on data availability, validator connectivity, and cryptographic efficiency.
At the time of publication, ETH is trading at approximately $1,845, which is a 3% increase over the last 24 hours, as markets digest the update in anticipation of today’s FOMC rate decision.
Core developers will now move on to the next hard fork, “Fusaka,” scheduled for late 2025, but today’s smooth launch cements Ethereum’s momentum after three years of incremental changes.#pectra #Fusaka #FOMC #BinanceSquare #Write2Earn $ETH