• bitcoinBitcoin (BTC) $ 119,241.00
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  • bnbBNB (BNB) $ 694.29
  • solanaSolana (SOL) $ 167.31
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  • dogecoinDogecoin (DOGE) $ 0.201405
  • staked-etherLido Staked Ether (STETH) $ 3,155.63
  • tronTRON (TRX) $ 0.301905
  • cardanoCardano (ADA) $ 0.748122
  • hyperliquidHyperliquid (HYPE) $ 47.79
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  • suiSui (SUI) $ 4.04
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  • chainlinkChainlink (LINK) $ 16.51
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  • whitebitWhiteBIT Coin (WBT) $ 44.77
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  • moneroMonero (XMR) $ 337.31
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  • ethena-usdeEthena USDe (USDE) $ 1.00
  • bitget-tokenBitget Token (BGB) $ 4.67
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  • daiDai (DAI) $ 1.00
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  • aptosAptos (APT) $ 5.16
  • crypto-com-chainCronos (CRO) $ 0.108536
  • nearNEAR Protocol (NEAR) $ 2.66
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • ondo-financeOndo (ONDO) $ 0.948002
  • ethereum-classicEthereum Classic (ETC) $ 19.48
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  • okbOKB (OKB) $ 47.92
  • jito-staked-solJito Staked SOL (JITOSOL) $ 203.45
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
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  • mantleMantle (MNT) $ 0.728295
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  • cosmosCosmos Hub (ATOM) $ 4.66
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.231488
  • render-tokenRender (RENDER) $ 3.97
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.766542
  • official-trumpOfficial Trump (TRUMP) $ 9.69
  • fasttokenFasttoken (FTN) $ 4.49
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,156.91
  • susdssUSDS (SUSDS) $ 1.06
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  • worldcoin-wldWorldcoin (WLD) $ 1.08
  • filecoinFilecoin (FIL) $ 2.61
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 118,573.00
  • spx6900SPX6900 (SPX) $ 1.84
  • skySky (SKY) $ 0.079103
  • binance-staked-solBinance Staked SOL (BNSOL) $ 177.85
  • jupiter-exchange-solanaJupiter (JUP) $ 0.525618
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.80
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,314.43
  • kucoin-sharesKuCoin (KCS) $ 11.66
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,592.30
  • usdtbUSDtb (USDTB) $ 0.999897
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  • celestiaCelestia (TIA) $ 1.96
  • usdt0USDT0 (USDT0) $ 0.999111
  • nexoNEXO (NEXO) $ 1.31
  • story-2Story (IP) $ 4.44
  • xdce-crowd-saleXDC Network (XDC) $ 0.079897
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  • blockstackStacks (STX) $ 0.810144
  • fartcoinFartcoin (FARTCOIN) $ 1.23
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  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,321.07
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,381.61
  • sonic-3Sonic (S) $ 0.364117
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 119,163.00
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.67
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999924
  • dogwifcoindogwifhat (WIF) $ 1.08
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  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,321.91
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  • immutable-xImmutable (IMX) $ 0.543776
  • the-graphThe Graph (GRT) $ 0.103185
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • flokiFLOKI (FLOKI) $ 0.000101
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 119,221.00
  • pax-goldPAX Gold (PAXG) $ 3,344.83
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • clbtcclBTC (CLBTC) $ 119,161.00
  • wbnbWrapped BNB (WBNB) $ 694.62
  • kaiaKaia (KAIA) $ 0.152421
  • vaultaVaulta (A) $ 0.557498
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.23
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 187.87
  • iotaIOTA (IOTA) $ 0.222825
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.45
  • paypal-usdPayPal USD (PYUSD) $ 0.999643
  • msolMarinade Staked SOL (MSOL) $ 218.65
  • theta-tokenTheta Network (THETA) $ 0.830943
  • tether-goldTether Gold (XAUT) $ 3,335.72
  • lido-daoLido DAO (LDO) $ 0.905398
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  • the-sandboxThe Sandbox (SAND) $ 0.312744
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  • aerodrome-financeAerodrome Finance (AERO) $ 0.871941
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  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.75
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  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 3,375.28
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  • hashnote-usycCircle USYC (USYC) $ 1.09

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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