JPMorgan (JPM) stated in a research report that despite continuous upgrades to the Ethereum blockchain, its activity has not significantly increased. The bank noted that since the Dencun upgrade in March 2024, average fees and total fees have decreased, and there has been no substantial growth in daily transaction numbers and active addresses. Additionally, futures positions indicate that institutions have played a significant role in the recent rise of ETH. Ethereum launched the Pectra upgrade on May 7, which aims to simplify the staking process, enhance wallet functionality, and improve overall efficiency. (CoinDesk)