- Ethereum trades above the $3,400 price level with no significant price change.
- The developer team plans to deploy the Pectra upgrade in March 2025.
Even though Bitcoin reclaimed its $100,000 milestone earlier today, with over 4% price surge, Ether didn’t record any significant price surge. For the past week, Ether has been trading in the $3,000 to $3,400 price range. On the other hand, the Ethereum developer team is planning to launch the Pectra upgrade in March this year.
Ether is trading at $3,415 with around 2% price increase in the last 24 hours, at press time. The second-largest token recorded weekly and monthly price changes of +3.37% and -11.68% respectively. While its market cap is $412.38 billion and is up by 2.5%, 24-hour trading volume is down 5%, hovering around $27 billion.
Ethereum Developer Team Plans to Launch Pectra Mainnet Upgrade in March
As per Ethereum Execution Layer Meeting that streamed recently, the team is planning to launch the Pectra upgrade in March this year. The developer team is also planning to achieve specific milestones that lead to mainnet upgrade.
Before the Pectra mainnet upgrade, Sepolia and Holesky hard forks are expected to take place in February. In case the hard forks are launched as planned, the mainnet upgrade will be completed in the following month of March.
The Pectra mainnet upgrade is originally estimated to take place by the end of 2024. However, the scope of his upgrade expanded, which resulted in the present delay in Pectra upgrade delay.
Once the upgrade takes place as planned, it will bring several Ethereum Improvement Proposals along with it. With these EIPs, we can expect to see improved use experience and network efficiency. The maximum validator stake limit will also be increased from 32 ETH to 2,048 ETH. So far, multiple devnets have been completed to test individual components of the Pectra Upgrade.
On the other hand, Ether price has been disappointing investors with no notable price surges since December 2024. However, the upcoming crypto bull run combined with successful launch of the upcoming upgrade might push Ether price to new ATH.
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