According to Bitwise, Ethereum handles more institutional transactions than retail trading in stablecoins.
EthereumETHIt’s not just for non-fungible tokens You can also decentralized finance Degens no longer. A new analysis from Bitwise Europe, the network’s base layer is quietly transforming into a heavyweight settlement system for institutional money — while retail activity shifts elsewhere.
Data shows that Ethereum is a very popular cryptocurrency “evolving from a retail toll road to a freight terminal for institutional-grade use cases” You can also read about how to get started. stablecoin The majority of the activity is now on the blockchain. Stablecoins worth more than $127 Billion are now circulating on Ethereum’s blockchain. This trend shows that institutional users of the Ethereum network have been increasing. “for institutional treasury flows and on-chain dollars,” Analysts say.
DeFi and NFT frenzy that once characterised Ethereum has largely moved to layer-2 solution.
“NFT activity spiked sharply during the 2021–2022 cycle but has since dropped significantly. This reflects both market cooling and migration to L2s, which now harbour new NFT launches.”
Bitwise Europe
Ethereum’s mainnet is now mainly responsible for core infrastructure functions, including ETH transfers and regulated tokenized asset management, as well as the basic systems that support rollups, cross-chain links, and other fundamentals. It appears that the transition was intentional.
Ethereum’s upgrade to Pectra is now live, and PeerDAS/Fusaka will be coming soon. “no longer scaling for smaller protocols,” Analysts write that this network is aiming for billions in layer-2 transactions and tokenized Treasury flows, as well as institutional settlement flow.
Ethereum core developers had been anticipating this evolution for some years. Eric Conner, Ethereum’s core developer in early 2024 suggested Mainnet will no longer be used by daily users to conduct token transactions.
Conner, in response to the widespread concern regarding high Ethereum transaction fees, pointed out that Ethereum’s mainnet, although it may not provide the best platform for everyday transactions over the long-term, will serve as a foundation for decentralized apps and settlement layers.
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Source: crypto.news
