According to @pedrouid, Ethereum’s large-scale network upgrades have been consistently uneventful, signaling successful execution at scale, source: @pedrouid. The Merge shifted Ethereum to Proof-of-Stake on September 15, 2022 and finalized on mainnet, source: Ethereum Foundation. The Shapella upgrade went live on April 12, 2023 and enabled validator withdrawals on mainnet, source: Ethereum Foundation. The Dencun upgrade activated on March 13, 2024, introducing EIP-4844 (proto-danksharding) to lower Layer-2 transaction costs, source: Ethereum Foundation. Major exchanges pre-announce temporary suspensions of ETH and ERC-20 deposits and withdrawals during network upgrades and resume services after finalization, affecting transfer timing around the event, source: Binance Support.