Ethereum blockchain has not yet seen a significant increase in activity despite successive updates, said JPMorgan Investment Bank (JPM) in a research report.
“Neither the number of daily transactions nor the number of active addresses saw an increase in material after recent updates,” the analysts led by Nikolaos Panigirtzoglou wrote in Wednesday’s report.
Even so, the total locked value (TVL) in Ethereum increased between the Dencun update in March 2024 and sin earlier this month, the bank said, possibly due to the increase in loans and loans on decentralized exchanges (DEX), but the increase seems lower in terms of dollar than in the Ether of the Blockchain
symbolic.
Ethereum activated the Pectra update on May 7. The update aims to speed up participation, improve the functionality of the wallet and improve general efficiency.
Pectra makes Token and Ethereum itself more attractive to institutions, the bank said. It distinguishes the network of competitors, but the updates have not increased the activity significantly.
The bank said that after the Dencun update, both the average and total rates fell, partly due to a change towards the chains of layer 2.
Ether’s circulating supply also increased after Dencun, who raised concerns about cryptography “becoming an inflationary asset in the middle of a moderate transaction activity,” JPMorgan said.
Future positioning suggests that institutions played an important role in the recent rally in Ether, the report added. Ether has increased more than 45% in the last month, according to Coindesk data.
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