According to new findings from Binance Research, Ethereum’s upcoming Pectra and Fusaka upgrades could mark a turning point for the network’s scalability and long-term potential in crypto payments.
Despite Ethereum being a highly secure and widely used blockchain, the report warns that Solana and BNB Smart Chain are gaining ground in decentralized exchange (DEX) volumes and fees due to faster speeds and lower costs.
Scalability and Usability Improvements
Binance attributes this trend to Ethereum’s current limitations, including high fees, slower transaction speeds, and a fragmented ecosystem of developers and liquidity. The rise of Layer 2 (L2) networks has also partly contributed to reduced value capture at its base layer, further weakening the network’s overall position.
The Pectra upgrade, now scheduled for May 2025 after delays in testnet deployment, is expected to deliver core improvements that could ease these challenges. It merges the Prague execution layer with the Elect

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