Subscribe to our Telegram channel
Bernstein: Ethereum grew by 63% in a month
The Ethereum rate ETH $2,541.82 Bridged Ether (StarkGate) -1.19% Market capitalization $0.23 billion VOL. 24 hours $1.75 billion has increased by more than 63% over the past month, reaching $ 2700 at some points. Experts at Bernstein explain this by a combination of macro trends, including the stablecoin boom, the institutionalization of second-level solutions (L2), and the growing interest in real-world asset (RWA) tokenization. All of this contributes to a rethinking of Ethereum’s role in the crypto ecosystem, The Block reports, citing the company’s report.
According to Bernstein analysts, Ethereum is in an intermediate position: it does not compete with bitcoin as a means of preserving value and is not optimal for speculative transactions by retail traders. But the situation has begun to change, with a growing demand for stablecoins and products that reflect the value of real assets based on Ethereum as a technical platform.
Bernstein cited the purchase of Bridge, a payment infrastructure startup by fintech company Stripe, as well as reports of Meta’s interest in implementing stablecoin payments as examples of this trend. Both initiatives are likely to be implemented on the basis of Ethereum.
In addition, ETH growth is influenced by institutional investments in L2 solutions. In particular, Robinhood recently acquired the Canadian platform WonderFi, and Bernstein predicts that large brokers may start offering clients tokenized assets, including stocks, based on these solutions. It is also noted that the change in market narratives around Ethereum has led to a massive closure of short positions, which has supported the price increase.
Bernstein analysts believe that the current dynamics will contribute to the recovery of ETH retail trading and increase its volume. At the time of publication, Ethereum was trading at $ 2611, showing a 44% increase over the week and 63% over the month. This may indicate a new stage in the development of the asset in the face of a changed market structure.