JPMorgan Chase reports that recent upgrades to the Ethereum blockchain have not significantly increased network activity. Despite enhancements, average and total fees have declined since the Dencun upgrade in March 2024. The bank highlights a 12% drop in daily transactions and a 20% decrease in daily active addresses. Ethereum has also fallen to 17th in the weekly revenue ranking among blockchains and applications, indicating a lack of expected growth in network engagement.