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JPMorgan says that Ethereum should get on the dazzling “stablecoins, which operates mainly on its network.
The prospects follow the signing by American president Donald Trump of the Act on Engineering in July, a historic law giving clear rules of Stablecoin.
This decision prompted Titans such as Amazon, Citigroup and Mastercard to speed up Stablecoin plans, following the IPO of the USD parts circle.
“We believe that Ether emerges as a direct way to expose itself to the meteoric growth expected by stablescoins because the Ethereum network hosts most of these stablecoin assets, directly in L1 or indirectly via certain L2,” wrote in a note on Thursday.
The market capitalization of the mouth
The market capitalization of Stablecoins increased for an eighth consecutive month in July to 272.6 billion dollars and jumped nearly $ 3.8 billion last week. The growth of the year of the sector exceeds that of the wide market of cryptography.
Data from the decentralized financing aggregator (DEFI) Defillama shows This Ethereum currently holds around a market share of 50% of a value of 138.595 billion dollars. It is indeed ahead of the 30% held by Justin Sun’s Blockchain Tron, putting it in the leading position for the benefit.
Distribution of Stablescoin’s market share (source: defillama)
The Ethereum Ethreum Ethreum token has not set a new price of all time (ATH) since November 16, 2021. At the time, Altcoin reached $ 4,891.70.
It came to less than 4% of this peak yesterday, but a larger sale of the market after a warmer outlet than the United States, hopes that the record price will finally be reached.
While ETH was able to recover from yesterday’s lowest daily from $ 4,461.28 to trade At $ 4,634.63 to 5:50 h 50 HNE, it is still down more than 2% over the 24 -hour delay.
Genius Act and Pro-Crypto policies in the United States ignite frenzy
The catalyst for an expected stability boom is the regulatory framework established by the Act on Engineering. It establishes clear rules concerning the support of the reserve, disclosure, LMA policies, licenses and compliance.
The IPO of Circle has already lit the market. He became a public on the New York Stock Exchange (NYSE) on June 5 after having collected around $ 1.1 billion by selling $ 24 million at $ 31 each.
The Circle shares, with the “CRCL” ticker, opened at $ 69, more than double the IPO price. They reached an intra -day summit of $ 100 before closing the first day session at $ 83, marking a first gain of 168%.
Even the Trump family embarks on the stablecoin sector, with their WORLD Liberty Financial Project launched USD1 in March this year. It is already listed on Binance.
Coinmarketcap data show that USD1 is currently the 5th largest stablecoin with a market capitalization of 2.18 billion dollars.
The largest stablecoins by market capitalization (source: Coinmarketcap))
The current leader by a substantial margin is the USDT of Tether, with a capitalization of 165.95 billion dollars. The USDC of Circle is the next largest, with a market capitalization of around 67.75 billion dollars.
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