{"id":27926,"date":"2025-05-21T16:32:47","date_gmt":"2025-05-21T16:32:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27926"},"modified":"2025-05-21T16:32:47","modified_gmt":"2025-05-21T16:32:47","slug":"ethereums-latest-key-upgrade-fails-to-ignite-network-activity-is-adoption-sinking","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27926","title":{"rendered":"Ethereum\u2019s Latest Key Upgrade Fails To Ignite Network Activity, Is Adoption Sinking?"},"content":{"rendered":"
\n

Ethereum<\/a>\u2018s ongoing bullish action hasn\u2019t fully faded yet as the general crypto market builds momentum. While Ethereum\u2019s price has displayed a brief surge, the network continues to show weakness in user engagement, even with recent key updates meant to boost the network\u2019s performance and appeal.<\/p>\n

On-Chain Engagement With Ethereum Lagging<\/h2>\n

A leading on-chain data analytics platform, Glassnode, shared<\/a> a recent worrying report about the Ethereum network. ETH\u2019s price may have displayed signs of resilience in the midst of ongoing market fluctuations, but the network activity tells a different story.<\/p>\n

Glassnode has revealed a persistent, weakened performance in ETH\u2019s on-chain activity, raising concerns about whether its core ecosystem is losing momentum. This consistent lack of network activity occurs despite ongoing positive narratives and upgrades<\/a>.<\/p>\n

According to the on-chain platform, the latest key updates, like the Pectra upgrade, have been unable to ignite activity on the network. \u201cEthereum\u2019s Pectra upgrade hasn\u2019t translated into a spike in network engagement just yet,\u201d the platform stated.<\/p>\n

\"Ethereum\"<\/p>\n

It is worth noting that the Pectra Upgrade was officially launched in early May, with the purpose of bolstering ETH\u2019s network<\/a>\u2019s scalability and efficiency. The upgrade consists of two synchronized updates: The Prague execution layer hard fork and the Electra consensus layer upgrade.<\/p>\n

Glassnode stated that user attrition has decreased, and the Pectra Upgrade still has not increased the number of new or returning users after analyzing the ETH Month-over-Month activity Retention metric. Data from the on-chain platform shows that the average count of new and revived addresses has decreased since the upgrade compared to year-to-date (YTD) values.<\/p>\n

ETH\u2019s average new addresses<\/a> have decreased by about 1.8%, whereas resurrected addresses have declined by 8.4% during this period. Additionally, user churn has witnessed an approximately 8.5% drop in the same time frame. Thus far, Glassnode noted that it remains to be seen whether this is a result of the network upgrades or more general cycle trends.<\/p>\n

A Breakout After A Short-Term Correction<\/h2>\n

Even though network activity has weakened, it does not fully hinder ETH\u2019s price<\/a> from experiencing a rally. On-chain expert and author ShayanMarkets has predicted <\/a>an impending breakout to the upside as the Ethereum market overheats near the $2,500 mark. However, a short-term correction is likely to take place before the breakout.<\/p>\n

Using a bubble chart that illustrates the total trading volume across all crypto exchanges, the expert highlighted that an overheating scenario, marked by a notable spike in trading volume, has resulted from ETH\u2019s approach to the $2,500 resistance level<\/a>, now acting as a support level.<\/p>\n

This spike is mainly triggered by profit-taking and the available resting supply at this key zone. Furthermore, the overheated situation suggests a probable short-term drop as the market cools and makes room for fresh accumulation. While the altcoin<\/a> has surpassed $2,500, Shayan\u2019s analysis noted that this move is probably driven by fresh demand.<\/p>\n

\"Ethereum\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum\u2018s ongoing bullish action hasn\u2019t fully faded yet as the general crypto market builds momentum. While Ethereum\u2019s price has displayed a brief surge, the network continues to show weakness in user engagement, even with recent key updates meant to boost the network\u2019s performance and appeal. On-Chain Engagement With Ethereum Lagging A leading on-chain data analytics […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27926","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27926"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27926\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}