Since June, ETH institutional purchases have accounted for 3.8% of circulation, and stablecoins on the Ethereum chain account for 40% of blockchain fees

According to Geoff Kendrick, an analyst at Standard Chartered, institutional purchases of ETH have accounted for 3.8% of circulation since June, which is twice that of Bitcoin. In addition, the passage of the GENIUS Act in the United States has promoted the adoption of stablecoins, with over half of stablecoins based on Ethereum issuance, accounting for 40% of blockchain fees. The report also points out that Ethereum developers plan to increase Layer 1 throughput by 10 times, preparing for high-value transactions and the expansion of the Layer 2 ecosystem. Previously, Standard Chartered Bank raised its year-end target price for Ethereum to $7500, and it is expected to break through a historic high of $4866 in Q3.