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JPMorgan: Growth in Stablecoin Market within Ethereum Ecosystem May Drive Continued Rise in ETH
Summary: In a breaking report, JPMorgan pointed out on Thursday that with Wall Street beginning to issue a large number of stablecoins within the Ethereum ecosystem, ETH's recent outperformance may continue. According to analysts at the bank, a series of USD-pegged tokens - following the passage of the 'GENIUS Act' last month, which provided a regulatory ...
In a breaking report, JPMorgan pointed out on Thursday that with Wall Street beginning to issue a large number of stablecoins within the Ethereum ecosystem, ETH's recent outperformance may continue.
According to analysts at the bank, a series of USD-pegged tokens - following the passage of the 'GENIUS Act' last month, which provided a regulatory framework for stablecoins - are expected to impact Ethereum prices, even if these assets are issued on layer 2 networks rather than directly on the Ethereum main chain.
The analysts stated: 'We believe Ethereum is becoming a pathway for direct access to high-growth opportunities in stablecoins, as the Ethereum network hosts most of these stablecoin assets, whether as L1 direct hosting or through partial L2 indirect hosting.'
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Link: JPMorgan: Growth in Stablecoin Market within Ethereum Ecosystem May Drive Continued Rise in ETH [Copy]
