As BlackRock has repeatedly emphasized, financial assets on the blockchain, Ether is the default option, and traditional finance is beginning to understand the importance of Ether as infrastructure.

However, the price of ETH has not risen, and the reason is simple,

The market is a voting machine in the short term, but a weighing machine in the long term.

Today CRCL surged, while BTC and ETH dropped significantly, which is certainly related to sentiment and the overall market, and to some extent reflects the current situation where funds are chasing hot spots, with on-chain funds being particularly depleted.

However, this situation is unlikely to last long, as not only stablecoins but also RWA will be coming soon.

Robinhoon, the CEO, stated in an interview that there is no legislative threshold for RWA to go on-chain.

The casino is rapidly migrating to the blockchain, along with it comes trading volume, gas fees consumption, and countless new flywheels and Ponzi schemes (a familiar play in the crypto space).