While reinforcing Ethereum's reputation for reliability, this approach slows the rollout of key upgrades like EIP-7702 (account abstraction) and EIP-7251 (higher staking limits), potentially pushing the mainnet launch to late April 2025. Investor sentiment may split, with long-term holders appreciating the focus on security. At the same time, short-term traders grow frustrated by Ethereum's lagging pace, especially as its price hovers around $1900 amid a reported one-year low in market sentiment.
Competitively, Ethereum's position as the top smart contract and Layer 1 platform faces pressure from faster-moving rivals like Solana, which could exploit this delay to gain ground in scalability and developer adoption. Pectra's eventual upgrades should bolster Ethereum's edge—enhancing rollups and user experience—but the delay risks ceding short-term momentum to competitors, testing Ethereum's dominance despite its entrenched ecosystem. The developers' perfectionist stance may ensure a robust launch, but it raises questions about whether a quicker, iterative approach could better balance innovation and stability in a rapidly evolving blockchain landscape.
Ryan Lee, Chief Analyst at Bitget Research
