Ethereum

JUST

Merge

<div class="watcher-guru"> 
 <p>Ethereum has fallen short of expectations in terms of network activity following the much-anticipated <a rel="noopener noreferrer nofollow" title="Shanghai" href="https://thebittimes.com/tag/shanghai.html">Shanghai</a> upgrade implemented in April. While the crypto community had high hopes for this upgrade, it appears that the results have left many disappointed, according to <a rel="noopener noreferrer nofollow" title="JPMorgan" href="https://thebittimes.com/tag/jpmorgan.html">JPMorgan</a>.</p> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr">JUST IN: JPMorgan says Ethereum has been disappointing since its Shanghai upgrade.</p>— Watcher.Guru (@WatcherGuru) September 22, 2023 
 </blockquote> 
 <h1 class="wp-block-heading" id="h-network-activity-declines-despite-energy-efficiency">Network Activity Declines Despite Energy Efficiency</h1> 
 <p>The transition from proof-of-work to proof-of-stake, known as the Merge , was expected to revolutionize Ethereum. The upgrade was aimed at drastically reducing its energy consumption. In fact, it succeeded in reducing energy usage by over 99%. However, despite this remarkable achievement, the Ethereum network has not seen the surge in activity that was anticipated.</p> 
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 <p><strong>Also read: US Government Indicts Senator Bob Menendez For Bribery</strong></p> 
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 <p><a rel="noopener noreferrer nofollow" title="JPMorgan" href="https://thebittimes.com/tag/jpmorgan.html">JPMorgan</a> analysts, led by Nikolaos Panigirtzoglou, expressed their concerns in a recent note. They pointed out that while Ethereum’s energy consumption plummeted, the supply of Ethereum was shrinking. Additionally, staking had risen significantly, with a 50% increase since the <a rel="noopener noreferrer nofollow" title="Shanghai" href="https://thebittimes.com/tag/shanghai.html">Shanghai</a> upgrade. Surprisingly, these positive developments did not translate into increased network activity.</p> 
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 <p>Ethereum’s vital metrics, including daily transactions, daily active addresses, and the total value locked (TVL) in decentralized finance (DeFi) protocols, have all experienced declines. These numbers are crucial indicators of the network’s health and adoption, and their downward trend is a cause for concern.</p> 
 <p><a rel="noopener noreferrer nofollow" title="JPMorgan" href="https://thebittimes.com/tag/jpmorgan.html">JPMorgan</a>’s analysts attribute Ethereum’s lackluster performance to a combination of “bearish forces” that have plagued the cryptocurrency ecosystem over the past year. These include the collapses of platforms like FTX and Terra, the uncertainty surrounding U.S. regulatory measures and crackdowns, waning interest in crypto among institutional investors, and a drying up of venture capital funding. </p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>ethereum</li> 
  <li>JPMorgan</li> 
  <li>Shanghai</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-has-been-disappointing-since-shanghai-jpmorgan-tbt63707.html">https://thebittimes.com/ethereum-has-been-disappointing-since-shanghai-jpmorgan-tbt63707.html</a></p>

Ethereum Has Been Disappointing Since Shanghai: JPMorgan

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