Ethereum Has Been Disappointing Since Shanghai Upgrade: JPMorgan

The much-anticipated Ethereum Shanghai upgrade in April had the crypto community’s expectations high, yet it appears that the results have left them somewhat let down. JPMorgan analysts indicated that, while allowance for greater efforts towards energy conservation were heralded with the transition, efforts of reducing energy consumption by 99% didn’t come to fruition in terms of surges within the network of activity. Yet, opposite figures don’t illustrate concerned signs towards Ethereum’s health, as EVnen though staking rose 50%, daily traffic, such as those in DeFi protocols, all dipped. Actions of a bear market such as closure of those with Terra or FTX, restrictions and tightening up of US regulations on the economic level of investment, decreased interest on behalf of established institutional investors and slim times in terms of venture capital sourcing feed young and are emphasized by JPMorgan analysts to bear the weight of responsibility of Ethereum’s dwindling endeavor.

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