Analysts note that despite ongoing upgrades, Ethereum has struggled to drive bullish sentiment in the market and keep up with Bitcoin since the Merge in 2022. These upgrades are seen as part of a long-term strategy for wider blockchain adoption rather than creating immediate market changes. Wall Street's interest in spot Ethereum exchange-traded funds has been inconsistent, and Ethereum has not been keeping up with newer trends, with meme coins being issued on cheaper networks. However, Tether issuance on Ethereum has surpassed that on TRON despite TRON being a cheaper option. While Ethereum has lagged behind Bitcoin this year and is in a technical bear market, there is optimism that it may see gains in February, as it has historically performed well during this month.



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