Sarah Suleiman
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JPMorgan says Ethereum's recent upgrades haven't meaningfully boosted activity
Ethereum
ETH -0.26%
's recent Pectra upgrade helped push ether's price and market capitalization, but recent upgrades haven't resulted in stronger onchain activity, according to JPMorgan analysts.
"While the Pectra upgrade represents positive news, making Ethereum and its network even more attractive to institutions and distinguishing it from competitor platforms, successive upgrades have so far failed to boost Ethereum network activity meaningfully," JPMorgan analysts led by managing director Nikolaos Panigirtzoglou wrote in a report shared with The Block.
The Pectra upgrade earlier this month bundled several Ethereum improvement proposals (EIPs). These proposals aimed at improving staking efficiency, increasing rewards, and enabling faster deposits and withdrawals — features the JPMorgan analysts say make Ethereum more appealing to institutional investors.
JPMorgan analysts have been less bullish on Ethereum overall. Earlier this year, they said that Ethereum is likely to continue facing "intense competition" from rival blockchains, and said Bitcoin's dominance over Ethereum and altcoins is expected to persist through 2025.$BTC
$XRP
$SOL
Ethereum
ETH -0.26%
's recent Pectra upgrade helped push ether's price and market capitalization, but recent upgrades haven't resulted in stronger onchain activity, according to JPMorgan analysts.
"While the Pectra upgrade represents positive news, making Ethereum and its network even more attractive to institutions and distinguishing it from competitor platforms, successive upgrades have so far failed to boost Ethereum network activity meaningfully," JPMorgan analysts led by managing director Nikolaos Panigirtzoglou wrote in a report shared with The Block.
The Pectra upgrade earlier this month bundled several Ethereum improvement proposals (EIPs). These proposals aimed at improving staking efficiency, increasing rewards, and enabling faster deposits and withdrawals — features the JPMorgan analysts say make Ethereum more appealing to institutional investors.
JPMorgan analysts have been less bullish on Ethereum overall. Earlier this year, they said that Ethereum is likely to continue facing "intense competition" from rival blockchains, and said Bitcoin's dominance over Ethereum and altcoins is expected to persist through 2025.$BTC
$XRP
$SOL
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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