Coinbase has announced a temporary suspension of Ethereum deposits and withdrawals from 2:50 a.m. to 3:45 a.m. PT on May 7, 2025. This pause comes as the Ethereum network gears up for its significant Pectra upgrade, which occurs at epoch 364032. The upgrade, designed to enhance the validator experience and streamline user interaction, follows previous improvements made to the network.
The Pectra upgrade will introduce several features, including EIP-7702, which aims to implement widespread account abstraction by allowing users to augment their Externally Owned Accounts (EOAs) with smart contract capabilities. Other updates within this upgrade include EIPs 7251 (increasing the maximum balance for validator rewards) and 7691 (doubling the Ethereum blob throughput to accommodate Layer 2 solutions). During the temporary suspension, existing staked positions will not be affected, but initiation of new staking requests may be delayed until after the maintenance window.
The announcement of PAX Gold (PAXG) integration into Coinbase's roadmap also coincides with this update, indicating continued growth and opportunities on the Ethereum network.
The Pectra upgrade will introduce several features, including EIP-7702, which aims to implement widespread account abstraction by allowing users to augment their Externally Owned Accounts (EOAs) with smart contract capabilities. Other updates within this upgrade include EIPs 7251 (increasing the maximum balance for validator rewards) and 7691 (doubling the Ethereum blob throughput to accommodate Layer 2 solutions). During the temporary suspension, existing staked positions will not be affected, but initiation of new staking requests may be delayed until after the maintenance window.
The announcement of PAX Gold (PAXG) integration into Coinbase's roadmap also coincides with this update, indicating continued growth and opportunities on the Ethereum network.
