Ethereum Has Been Disappointing Since Shanghai: JPMorgan
Ethereum has fallen short of expectations in terms of network activity following the much-anticipated Shanghai 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 JPMorgan . JUST IN: JPMorgan says Ethereum has been disappointing since its Shanghai upgrade. — Watcher.Guru (@WatcherGuru) September 22, 2023 Network Activity Declines Despite Energy Efficiency 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. Also read: US Government Indicts Senator Bob Menendez For Bribery JPMorgan analysts, led by Nikolaos Panigirtzoglou, expressed their concer...