Coinbase has announced a temporary suspension of Ethereum deposits and withdrawals on May 7, 2025, between 2:50 a.m. and 3:45 a.m. PT, due to the upcoming Pectra upgrade. This upgrade aims to enhance validator performance and improve user experience across the Ethereum network. During the suspension, new staking requests may be delayed, but existing staked positions will remain unaffected.
The Pectra upgrade follows previous enhancements in Ethereum’s roadmap and introduces several Ethereum Improvement Proposals (EIPs). Among these, EIP-7702 allows users to add smart contract functionality to their Externally Owned Accounts (EOAs), making it a notable advancement in account abstraction. Other EIPs slated for this upgrade, such as EIP-7251 and EIP-7691, are designed to improve the experience for validators and increase Ethereum’s blob throughput, which is vital for Layer 2 applications.
In a related update, PAX Gold (PAXG) has been included in the Coinbase roadmap, further expanding the platform’s service options for users. As the Ethereum community anticipates the results of the Pectra upgrade, market participants are keeping a close eye on potential impacts on ETH’s performance.
The Pectra upgrade follows previous enhancements in Ethereum’s roadmap and introduces several Ethereum Improvement Proposals (EIPs). Among these, EIP-7702 allows users to add smart contract functionality to their Externally Owned Accounts (EOAs), making it a notable advancement in account abstraction. Other EIPs slated for this upgrade, such as EIP-7251 and EIP-7691, are designed to improve the experience for validators and increase Ethereum’s blob throughput, which is vital for Layer 2 applications.
In a related update, PAX Gold (PAXG) has been included in the Coinbase roadmap, further expanding the platform’s service options for users. As the Ethereum community anticipates the results of the Pectra upgrade, market participants are keeping a close eye on potential impacts on ETH’s performance.
