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Analyst: Ethereum Welcomes "Highlight Moment" as the Start of the Blockchain Financial Services Cycle
BlockBeats News, July 21st, according to The Block, Bernstein analysts pointed out in a report that Ethereum (ETH) will "continue to attract strong investment attention" as the financial market's interest in stablecoins and asset tokenization is expected to continue to rise. They also expect the influence of asset management institutions such as BlackRock to drive the allocation of ETH in institutional portfolios, while banks and fintech companies will also purchase ETH to pay for transaction fees on the Ethereum network.
Bernstein analysts said: "Last Friday, the U.S. president signed the 'GENIUS Act,' making stablecoins officially legal digital cash in the United States. Considering Ethereum as the primary underlying channel for stablecoins, its moment of glory has finally arrived - in the past two weeks, ETH has risen by about 45%."
The analyst also added: "This is not a typical cryptocurrency 'boom-bust' cycle, but the beginning of a blockchain financial services cycle."
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