TechFlame News - According to a report by CoinDesk, JPMorgan stated in a client note on Wednesday that Ethereum's Fusaka upgrade, completed in 2025, has significantly boosted network activity in the short term. The upgrade effectively reduced transaction fees by increasing data capacity per block, leading to a rise in transaction volume and the number of active addresses. However, the bank expressed skepticism about the sustainability of this activity rebound. The report noted that historical experience shows Ethereum's previous upgrades have failed to achieve sustained growth in network activity. Currently, Ethereum faces structural pressure from Layer 2 networks such as Base and Arbitrum, as well as competing public chains like Solana. At the same time, speculative hype related to NFTs and meme coins has subsided, and the migration of major applications like Uniswap to dedicated chains has led to capital diversion. These factors have collectively resulted in reduced fee burning on the Ethereum mainnet, an increase in ETH supply, and a decline in total value locked (TVL) denominated in ETH. Despite the short-term boost from the Fusaka upgrade, these persistent challenges cast a shadow over its long-term growth prospects.