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Since June, institutional purchases of ETH have accounted for 3.8% of the Circulating Supply, with Ethereum stabilizing its market share of blockchain fees at 40%.
According to Standard Chartered analyst Geoff Kendrick, since June, institutional purchases of ETH have accounted for 3.8% of the Circulating Supply, which is double that of Bitcoin. Additionally, the passage of the US GENIUS Act has driven the adoption of stablecoins, with over half of stablecoins issued on Ethereum, accounting for 40% of Blockchain fees. The report also noted that Ethereum developers plan to increase Layer 1 throughput by 10 times in preparation for high-value transactions and the expansion of the Layer 2 ecosystem. Previously, Standard Chartered raised its year-end target price for Ethereum to $7,500, with Q3 expected to surpass the historical high of $4,866. (PANews)