Institutions are increasingly leveraging the network for institutional treasury flows and on-chain dollars, the analyst of Bitwise reveals.
At the beginning of 2024, Ethereum core developer Eric Conner advised that the network’s mainnet in the long term will not serve as the platform.
The world’s largest crypto index fund manager, Bitwise, reveals that Ethereum now manages more institutional stablecoin flows than retail trades. Ethereum is now not only for non-fungible tokens and decentralized finance degens anymore.
Bitwise Europe released a new analysis in which it mentions that the base layer of the network is silently changing into a heavyweight settlement system for institutional money, and retail activity shifts away.
The data shows that Ethereum is transforming from a retail toll road to a shipment terminal for institutional-grade use cases as stablecoin transactions now make up the major part of on-chain activity.
Having over $127 billion in stable
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