According to online reports, JPMorgan Chase recently stated in a research report that despite the continuous upgrading of the Ethereum blockchain, its activity has not increased significantly. The bank pointed out that since the upgrade of Dencun in March 2024, average fees and total fees have declined, and there has been no substantial increase in the number of daily transactions and the number of active addresses. In addition, futures positions indicate that institutions have played an important role in the recent rise in ETH. Ethereum launched an upgrade to Pectra on May 7, which aims to simplify the pledge process, enhance wallet functionality and improve overall efficiency.