Ethereums Post-Shanghai Upgrade Activity Disappoints, JPMorgan Analysts Report
Ethereum Ethereums Post-Shanghai Upgrade Activity Disappoints, JPMorgan Analysts Report 1 minuto ang nakalipas Balita ng Ethereum ng Bitcoin Ethereum underwent the Shanghai upgrade to enhance network activity and strengthen the DeFi ecosystem about a year ago. However, a recent report from JPMorgan suggests the upgrade has not met expectations due to an overall decrease in the networks activity since then. Ethereums Network Activity Declines Post-Upgrade The Shanghai upgrade was a milestone for Ethereum, transitioning the blockchain from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. This shift aimed to decrease energy usage and increase network activity. However, JPMorgans analysis revealed a decline in Ethereums network activity after the hard fork. According to the report, daily transactions on the Ethereum network have experienced a drop of approximately 12% since the upgrade. The number of daily active addresses on the blockchain has also fallen by nearly 20%, indicating a decrease in user engagement and participation. Total Value Locked (TVL) in DeFi has also witnessed a slump of almost 8%. JPMorgan‘s analysts believe external factors in the crypto environment may have influenced Ethereum’s performance after the Shanghai upgrade. One challenge Ethereum has faced is bearish forces in the crypto market, like setbacks in projects such as Terra and FTX in the