Ethereum promotions have failed to increase network activity in a meaningful way: JPMorgan

Investment Bank (JPM) said in a research report that Ethereum Blockchain has not yet witnessed a significant increase in activity despite successive promotions.

“The number of daily transactions, nor the number of active titles, has not seen an increase in post -material promotions,” analysts, led by Nikolaos Bengirgzoglu, wrote in a report on Wednesday.

It is still, Total closed value (TVL) on ethereum increased between Denkon Promotion in March 2024 and Petra Earlier this month, the bank noted, perhaps due to the increase in lending and borrowing on Decentralization exchanges (Dexs), but the increase seems less in terms of dollar compared to Blockchain

code.

Ethereum activated Pectra on May 7. The update aims to simplify deception, enhance portfolio functions and improve total efficiency.

The bank said that Petra made the distinctive symbol and Ethereum itself more attractive to institutions. It distinguishes the network from competitors, but the promotions did not enhance the activity in a useful way.

The bank indicated that after Dencun’s upgrade, the average and total fees decreased, partly due to the shift towards Layer 2 chains.

JPMorgan said that the supplies circulated in ETHER also increased after Dencun increased, which raised concerns about the encryption “to become one of the inflationary assets amid the activity of the subject of transactions.”

The report added that future sites indicate that the institutions played a major role in the last gathering in Al -Atheer. ETHER increased more than 45 % last month, as coinesk data appears.

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