One of Wall Street’s top investment banks—J.P. Morgan—thinks that the EVM will benefit the most from growing stablecoin adoption. Are big banks supporting an Ethereum price prediction that pushes it to the top spot of the crypto market?
Analysts from the financial institution said in a recent note to clients that Ether ($ETH) has emerged “as a direct way to gain exposure to the expected meteoric growth in stablecoins as the Ethereum network hosts most of these stablecoin assets, directly as the L1 or indirectly through some L2s.”
Stablecoins account for 7% of the total market cap of the top 100 cryptos. According to data from DeFi Llama, nearly half of the $270 billion worth of stablecoins that are currently in circulation are stored in the Ethereum network.
This gives the EVM an edge over other blockchains to capitalize on the growth of this sector. A recent report from the crypto market maker Keyrock estimates that the market value of stablecoins could rise to $3 trillion.
JP Morgan analysts emphasized that the passing of the GENIUS Act could mark a pivotal moment for the sector. Now that stable assets can be legally issued and used in U.S. territory, institutional adoption should rise in the near term.
As the network strengthens its architecture through upgrades like Pectra, more and more stable assets will flow to its DeFi ecosystem, supporting a bullish Ethereum price prediction.
Ethereum Price Prediction: $ETH Could Deliver Gains of More Than 200% After Price Channel Breakout
Trading volumes have skyrocketed after $ETH surpassed the $4,100 resistance. This level acted as a strong ceiling in the past 12 months or so, but has now been cleared and may have marked the beginning of altcoin season.
Assuming no increases in Bitcoin’s market cap for years, Ethereum would have to increase its value by 4X to surpass the top crypto.
Although this sounds a bit far-fetched, Ethereum’s real-world and practical use cases could contribute to narrowing the gap with $BTC as the world progressively embraces blockchain technology.
The daily chart shows huge upside potential in the long term. The token could more than triple its value as the rally has accelerated following a bullish breakout above a long-dated ascending price channel.
Same as stablecoins, meme coins are expected to deliver huge gains during this bull market as investors’ risk appetite increases. Token6900 ($T6900) has the footsteps of previous successes like SPX6900 ($SPX) and could deliver 100X gains.
Token6900 ($T6900) Raises $2M in Just a Few Weeks as “Vibe Liquidity” Starts Flowing
Token6900 ($T6900) is the purest meme coin out there. It offers no incentives, makes no promises, and has no roadmap and that’s what makes it so great.
It is a community-centered asset whose value will grow as the masses embrace its purity. It is peak brainrot with a touch of 2000s nostalgia.
The biggest and earliest believers who buy at its discounted presale price of $0.006975 will be the ones to make the most out of its success, as the token is hard-capped at $5 million.
To join the movement, head to the Token6900 website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH or use a bank card to invest.
Click Here to Participate in the PresaleThe post Ethereum Price Prediction: Wall Street Giant JPMorgan Endorses ETH for Explosive Growth – Can Ethereum Overtake Bitcoin? appeared first on Cryptonews.
