Ethereum has changed since the beginning of 2023, showing a 36.48% gain in the second quarter. This article examines the key factors behind this change.
Stablecoin Legislation as a Key Catalyst
One of the main catalysts for Ethereum's growth has been the accelerated legislation around stablecoins. Given that the global stablecoin market capitalization has reached record levels, the upcoming legal initiatives in the U.S. and Hong Kong are expected to have a significant impact on the demand for ETH, as many leading stablecoins operate on its base.
Tokenization of Real Assets as a New Wave
The next factor is the tokenization of real-world assets (RWA). Since 2023, the RWA market cap has surged from $5.2 billion to $24.3 billion. Leaders such as BlackRock and Coinbase have started actively tokenizing traditional financial products on Ethereum, confirming its status as a key player in this area.
DeFi's Revival and Its Impact on ETH
The revival of decentralized finance (DeFi) also underlines the importance of Ethereum as the base asset for new financial structures. Programs like BlackRock BUIDL are integrating with DeFi, allowing users to earn yields on staking and lending, which will lead to further interest in ETH in the long run.
The dynamics of Ethereum's growth can be attributed to a combination of factors: stablecoin provisions, RWA tokenization, and DeFi revival. These aspects are transforming the financial ecosystem, where ETH is becoming a key element.
