ETH faces a pivotal moment as market dynamics, protocol upgrades and regulatory shifts converge. This analysis dissects price drivers, on-chain metrics and risks to outline plausible near-term scenarios.
As Ethereum continues to evolve, its upgrades have become increasingly centralized. Since the two recent Shanghai upgrades, critics allege that the Ethereum network has lost some of its decentralization, according to JPMorgan Research.
One year after Ethereum’s first major merge, the network’s circulating supply of Ether (ETH) has decreased by almost 300,000 units, with a total of around 111.1 million ETH now circulating.
On the fifth anniversary of Ethereum’s merge protocol, energy consumption is down 99%, yet concerns remain about possible centralization and potential risks.