• bitcoinBitcoin (BTC) $ 106,863.00
  • ethereumEthereum (ETH) $ 2,616.14
  • tetherTether (USDT) $ 0.999883
  • xrpXRP (XRP) $ 2.24
  • bnbBNB (BNB) $ 654.24
  • solanaSolana (SOL) $ 156.41
  • usd-coinUSDC (USDC) $ 0.999802
  • dogecoinDogecoin (DOGE) $ 0.176605
  • tronTRON (TRX) $ 0.270419
  • staked-etherLido Staked Ether (STETH) $ 2,616.15
  • cardanoCardano (ADA) $ 0.646331
  • hyperliquidHyperliquid (HYPE) $ 44.57
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 106,782.00
  • wrapped-stethWrapped stETH (WSTETH) $ 3,154.11
  • suiSui (SUI) $ 3.11
  • bitcoin-cashBitcoin Cash (BCH) $ 453.44
  • chainlinkChainlink (LINK) $ 13.67
  • leo-tokenLEO Token (LEO) $ 9.27
  • avalanche-2Avalanche (AVAX) $ 19.61
  • stellarStellar (XLM) $ 0.263355
  • whitebitWhiteBIT Coin (WBT) $ 51.54
  • the-open-networkToncoin (TON) $ 3.00
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • usdsUSDS (USDS) $ 0.999787
  • wethWETH (WETH) $ 2,616.49
  • wrapped-eethWrapped eETH (WEETH) $ 2,800.46
  • hedera-hashgraphHedera (HBAR) $ 0.159835
  • litecoinLitecoin (LTC) $ 87.17
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999590
  • polkadotPolkadot (DOT) $ 3.91
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • moneroMonero (XMR) $ 319.34
  • bitget-tokenBitget Token (BGB) $ 4.57
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 106,837.00
  • pepePepe (PEPE) $ 0.000011
  • uniswapUniswap (UNI) $ 7.73
  • pi-networkPi Network (PI) $ 0.600739
  • aaveAave (AAVE) $ 285.90
  • daiDai (DAI) $ 0.999628
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • bittensorBittensor (TAO) $ 380.91
  • okbOKB (OKB) $ 51.82
  • internet-computerInternet Computer (ICP) $ 5.62
  • aptosAptos (APT) $ 4.67
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • nearNEAR Protocol (NEAR) $ 2.32
  • crypto-com-chainCronos (CRO) $ 0.092639
  • jito-staked-solJito Staked SOL (JITOSOL) $ 189.35
  • ethereum-classicEthereum Classic (ETC) $ 17.09
  • ondo-financeOndo (ONDO) $ 0.820267
  • tokenize-xchangeTokenize Xchange (TKX) $ 32.21
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • mantleMantle (MNT) $ 0.628578
  • kaspaKaspa (KAS) $ 0.080118
  • official-trumpOfficial Trump (TRUMP) $ 10.11
  • gatechain-tokenGate (GT) $ 16.50
  • skySky (SKY) $ 0.092186
  • vechainVeChain (VET) $ 0.022740
  • cosmosCosmos Hub (ATOM) $ 4.24
  • fasttokenFasttoken (FTN) $ 4.43
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.728992
  • ethenaEthena (ENA) $ 0.309896
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 106,594.00
  • render-tokenRender (RENDER) $ 3.58
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.204204
  • filecoinFilecoin (FIL) $ 2.51
  • arbitrumArbitrum (ARB) $ 0.337040
  • worldcoin-wldWorldcoin (WLD) $ 1.01
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,615.94
  • algorandAlgorand (ALGO) $ 0.182146
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.51
  • usdt0USDT0 (USDT0) $ 1.00
  • spx6900SPX6900 (SPX) $ 1.65
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997918
  • usdtbUSDtb (USDTB) $ 0.999738
  • kucoin-sharesKuCoin (KCS) $ 11.16
  • binance-staked-solBinance Staked SOL (BNSOL) $ 165.07
  • jupiter-exchange-solanaJupiter (JUP) $ 0.434020
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.91
  • fartcoinFartcoin (FARTCOIN) $ 1.25
  • nexoNEXO (NEXO) $ 1.23
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,976.99
  • flare-networksFlare (FLR) $ 0.018159
  • celestiaCelestia (TIA) $ 1.80
  • bonkBonk (BONK) $ 0.000016
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,738.38
  • injective-protocolInjective (INJ) $ 11.85
  • sonic-3Sonic (S) $ 0.348575
  • story-2Story (IP) $ 3.59
  • optimismOptimism (OP) $ 0.601662
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999970
  • sei-networkSei (SEI) $ 0.181804
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999583
  • blockstackStacks (STX) $ 0.649199
  • newton-projectAB (AB) $ 0.015432
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,794.22
  • paypal-usdPayPal USD (PYUSD) $ 0.999707
  • xdce-crowd-saleXDC Network (XDC) $ 0.059302
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,741.18
  • kaiaKaia (KAIA) $ 0.158725
  • dogwifcoindogwifhat (WIF) $ 0.890204
  • immutable-xImmutable (IMX) $ 0.473944
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,751.69
  • wbnbWrapped BNB (WBNB) $ 654.17
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 106,694.00
  • the-graphThe Graph (GRT) $ 0.089535
  • vaultaVaulta (A) $ 0.539237
  • tether-goldTether Gold (XAUT) $ 3,418.45
  • curve-dao-tokenCurve DAO (CRV) $ 0.619142
  • pax-goldPAX Gold (PAXG) $ 3,441.81
  • clbtcclBTC (CLBTC) $ 106,677.00
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 106,822.00
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 174.82
  • flokiFLOKI (FLOKI) $ 0.000080
  • msolMarinade Staked SOL (MSOL) $ 203.73
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.36
  • jito-governance-tokenJito (JTO) $ 2.24
  • lido-daoLido DAO (LDO) $ 0.836608
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,825.82
  • zcashZcash (ZEC) $ 45.56
  • theta-tokenTheta Network (THETA) $ 0.724493
  • ousgOUSG (OUSG) $ 111.43
  • ethereum-name-serviceEthereum Name Service (ENS) $ 21.07
  • galaGALA (GALA) $ 0.015523
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999367
  • wrapped-hypeWrapped HYPE (WHYPE) $ 44.53
  • iotaIOTA (IOTA) $ 0.174362
  • the-sandboxThe Sandbox (SAND) $ 0.271458
  • bittorrentBitTorrent (BTT) $ 0.00000067
  • aerodrome-financeAerodrome Finance (AERO) $ 0.790744
  • jasmycoinJasmyCoin (JASMY) $ 0.013479
  • walrus-2Walrus (WAL) $ 0.480163
  • raydiumRaydium (RAY) $ 2.22
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.010127
  • pyth-networkPyth Network (PYTH) $ 0.109962
  • bitcoin-svBitcoin SV (BSV) $ 31.33
  • usual-usdUsual USD (USD0) $ 0.998062
  • pendlePendle (PENDLE) $ 3.77
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 106,522.00
  • tezosTezos (XTZ) $ 0.571392
  • coredaoorgCore (CORE) $ 0.594723
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • syrupMaple Finance (SYRUP) $ 0.539164
  • super-oethSuper OETH (SUPEROETH) $ 2,618.24
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,616.85
  • flowFlow (FLOW) $ 0.358401
  • falcon-financeFalcon USD (USDF) $ 0.999028
  • tbtctBTC (TBTC) $ 106,481.00
  • apecoinApeCoin (APE) $ 0.688529
  • saros-financeSaros (SAROS) $ 0.208830
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,738.30
  • thorchainTHORChain (RUNE) $ 1.55
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,795.52
  • decentralandDecentraland (MANA) $ 0.270620
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 106,777.00
  • staked-hypeStaked HYPE (STHYPE) $ 44.51
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,616.29
  • dexeDeXe (DEXE) $ 8.87
  • true-usdTrueUSD (TUSD) $ 0.996996
  • compound-governance-tokenCompound (COMP) $ 54.08
  • based-brettBrett (BRETT) $ 0.048742
  • grassGrass (GRASS) $ 1.63
  • kavaKava (KAVA) $ 0.429844
  • heliumHelium (HNT) $ 2.50
  • chain-2Onyxcoin (XCN) $ 0.013416
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.176862
  • morphoMorpho (MORPHO) $ 1.46
  • beldexBeldex (BDX) $ 0.061084
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999803
  • usddUSDD (USDD) $ 0.999863
  • keetaKeeta (KTA) $ 1.07
  • dydx-chaindYdX (DYDX) $ 0.530648
  • starknetStarknet (STRK) $ 0.123861
  • mimblewimblecoinMimbleWimbleCoin (MWC) $ 37.71
  • apenftAPENFT (NFT) $ 0.00000042
  • axelarAxelar (AXL) $ 0.416144
  • ketKet (KET) $ 0.410227
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • aioz-networkAIOZ Network (AIOZ) $ 0.345525
  • neoNEO (NEO) $ 5.78
  • elrond-erd-2MultiversX (EGLD) $ 14.35
  • ripple-usdRipple USD (RLUSD) $ 0.999775
  • usdbUSDB (USDB) $ 0.999037
  • eigenlayerEigenlayer (EIGEN) $ 1.31
  • ecasheCash (XEC) $ 0.000020
  • stader-ethxStader ETHx (ETHX) $ 2,776.26
  • arweaveArweave (AR) $ 6.05
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,617.33
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006806
  • aethirAethir (ATH) $ 0.039593
  • conflux-tokenConflux (CFX) $ 0.077226
  • mog-coinMog Coin (MOG) $ 0.000001
  • eosEOS (EOS) $ 0.535575
  • axie-infinityAxie Infinity (AXS) $ 2.39
  • telcoinTelcoin (TEL) $ 0.004207
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.003795
  • zebec-networkZebec Network (ZBCN) $ 0.004694

Ethereum Upgrades Have Failed to Boost Network Activity in Meaningful Way: JPMorgan

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Ethereum Upgrades Have Failed to Boost Network Activity in Meaningful Way: JPMorgan

The Ethereum blockchain has yet to see a significant increase in activity despite successive upgrades, investment bank JPMorgan (JPM) said in a research report.

“Neither the number of daily transactions nor the number of active addresses saw a material increase post recent upgrades,” analysts led by Nikolaos Panigirtzoglou wrote in the Wednesday report.

Still, total value locked (TVL) on Ethereum increased between the Dencun upgrade in March 2024 and Pectra earlier this month, the bank noted, possibly due to increased lending and borrowing on decentralized exchanges (DEXs), but the increase looks lower in dollar terms than in the blockchain’s ether

ETH$2,584.95 token.

Ethereum activated the Pectra upgrade on May 7. The update aims to streamline staking, enhance wallet functionality and improve overall efficiency.

Pectra makes the ETH token and Ethereum itself more appealing to institutions, the bank said. It distinguishes the network from competitors, but the upgrades haven’t boosted activity in a meaningful way.

The bank noted that following the Dencun upgrade, both average and total fees fell, in part because of a shift toward layer 2 chains.

Ether’s circulating supply also increased after Dencun, which raised concerns about the crypto “becoming an inflationary asset amid subdued transaction activity,” JPMorgan said.

Futures positioning suggests that institutions played a large role in the recent rally in ether, the report added. Ether has risen more than 45% in the past month, CoinDesk data show.



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