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Analysis: Ethereum upgrade fails to effectively boost network activity

JPMorgan recently stated in a research report that although the Ethereum blockchain is constantly being upgraded, its activity has not significantly increased. The bank pointed out that since the Dencun upgrade in March 2024, average fees and total fees have decreased, and the daily transaction volume and active address count have not shown substantial growth. In addition, the futures position data indicates that institutions have played an important role in the recent rise of ETH. Ethereum launched the Pectra upgrade on May 7th, which aims to simplify the staking process, enhance wallet functionality, and improve overall efficiency.

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