Ethereum, Token Wall Street according to van Ecka, key to stable -coxages

Ethereum, “Token of Wall Street”? This was how Jan Van Eck, CEO of Vaneckk, described it, suggesting that he could become a reference blockchain for banks when they are preparing for the rise of Stablecoins. They claim that the growth of stablecoins is pushing financial institutions to re -evaluate the way they treat digital payments and that Ethereum technology gives it an important advantage.

Van eck on bank and stablecoins

Van ECK explains that banks and service providers will soon be able to avoid Stablecoins transactions. As a result, the platform is most likely dominated by the Ethereum itself or other systems based on its basic model. Blockchain ability to support programmable financial applications can provide an advantage on other platforms.

That’s really what I call Token Wall Street. And I mean that if you think that stablecoins now have any bank and every company of financial services a way to receive stablecoins.

Jan van Eck

At the same time, the regulatory environment is also developing. With the entry into force of the brilliant law after his declaration by President Donald Trump, the United States introduced the first federal legislation dealing with stablecoins.

This development sets a framework defining the location of these digital assets in the financial system and offers banks more confident while preparing to integrate into their services.

Growth slows down but stablecoins reserves will reach a record

The Stablecoins market shows signs of strong adoption and slower growth. Here are the key data that illustrate this trend:

• Market capitalization exceeded $ 280 billion, reflecting rapid expansion.
• The weekly growth in the Stablecoins market is now, according to cryptocurrency, compared to previous periods of approximately $ 1.1 billion, showing slowing compared to previous periods.
• The growth of 60 days USDT is about $ 10 billion, which is over $ 21 billion over the previous peaks.
• Despite this slowdown, the Stablecoins 22 exchange reserves reached a record $ 68 billion, exceeding the previous peak of February 2022.
• USDT represents most of these reserves with $ 53 billion, while USDC has 13 billion.

Pressure banks adapt to

For van ECK, this development leaves banks for a small choice, but to prepare. In an interview with Fox Business van ECK, he stressed that companies would have to adopt stable management technology in the next 12 months. He noted that although the transition may take time, companies cannot afford to refuse digital payments of customers.

To support this trend, the Fireblock Platform Digital Asset platform shows that 90 % of the institutional actors responded to the integration of stablecoins into their operations.

In addition, the activity of companies played a central role in the recent Ethereum dynamics. In the last month, cash companies have received ETH more than $ 6 billion. Bitmine and Sharpink were the most important buyers. This wave of accumulation shows how Ethereum is placed as practical assets in corporate finances rather than remain limited to speculative trading.

According to this trend, ETH reached a record of $ 4,946 24. August. Since then, it has fallen by approximately 5 %and exchanged approximately $ 4,600 at the time of the editorial staff.

IFEOLowa O.

IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.

Renunciation

The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.