Ethereum core developers have announced the deployment of the Pectra upgrade on May 7, a highly anticipated update that is expected to improve wallet features and enhance user experience. The official confirmation came from Nixo Rokish, a member of the Ethereum Foundation’s protocol support team, who shared the news on social media. The decision to set the deployment date for May 7 was made in order to provide developers building on top of Ethereum with a 30-day notice period, as requested.
Terence, an Ethereum core contributor, further clarified that the Pectra upgrade would go live at 10:05:11 UTC on May 7, replacing the previously tentative plan for April 30. According to Rokish, finalizing the April 30 date would not have met the 30-day notice period required by builders on the platform, leading to the decision to push the deployment to May 7. The update is expected to bring significant improvements to the Ethereum ecosystem, addressing concerns about transaction costs and scalability.
Industry leaders are optimistic about the impact of the Pectra upgrade on Ethereum’s ecosystem. Tracy Jin, COO at crypto exchange MEXC, believes that the upgrade could reignite on-chain activity by reducing transaction costs and improving scalability. She suggests that the upgrade could potentially lead to a resurgence in Ethereum’s price, potentially reaching the $3,000 mark. The Ethereum network has faced challenges recently, with a 45% decline in the asset’s value in the first quarter of 2025 marking one of its worst quarterly performances since 2022.
In response to concerns about leadership within the Ethereum community, changes have been made at the Ethereum Foundation. Hsiao-Wei Wang and Tomasz Stańczak have been appointed as co-executive directors, while Aya Miyaguchi transitions to the role of Foundation President. These changes are part of ongoing efforts to strengthen the leadership and governance of Ethereum as it moves forward with the Pectra upgrade. Overall, the announcement of the deployment date for the Pectra upgrade on May 7 has generated excitement within the Ethereum community, with expectations high for the positive impact it will have on the platform.
