The leading cryptocurrency exchange, Coinbase, has announced that it will temporarily suspend Ethereum (ETH) deposits and withdrawals on May 7, 2025, to accommodate the Ethereum blockchain’s highly anticipated Pectra upgrade.
Scheduled from 2:50 AM to 3:45 AM PT, The pause for ETH transactions aims to ensure user fund safety during the network transition. Under the suspension, new staking requests will also be delayed until after 3:45 AM PT, though existing staked positions will remain unaffected.
The announcement was shared by Coinbase’s Asset management handle on the X. Coinbase previously implemented similar pauses, such as during the 2022 Ethereum Merge, as a precautionary measure.
The Pectra upgrade, combining the Prague (execution layer) and Electra (consensus layer) updates, follows the successful Dencun upgrade of March 2024, which reduced Layer-2 transaction fees. As a major development, this upgrade is expected to further enhance Ethereum’s scalability and staking flexibility, supporting the network’s growing ecosystem of decentralized applications.
As Ethereum continues to evolve, the Pectra upgrade underscores its commitment to scalability and innovation in the competitive Layer-1 blockchain space.
