Recent changes in the cryptocurrency market have caught some attention. Observers point out that the significant price increases of public chain projects like XRP and TRX may herald a larger trend. This price movement likely reflects the strategic positioning of institutional investors.

Many large institutions are issuing stablecoins on these public chains, which may explain their strong performance recently. However, it is worth noting that Ethereum remains the dominant platform for stablecoin issuance. This is primarily due to the long-established reputation of security and stability of the Ethereum network.

For large institutions, when choosing the underlying public chain for issuing stablecoins, transaction processing speed (TPS) and transaction volume are not the primary considerations. Instead, they place more importance on the core characteristics of the public chain: stability and security. These two factors are crucial for ensuring asset safety and maintaining the reliability of financial operations.

Recently, another important consideration factor raised by Ethereum founder Vitalik Buterin is 'privacy'. In an era that increasingly values data protection, privacy features are becoming a key metric for evaluating public chains. This not only relates to user experience but is also an important aspect of compliance and risk management.

Overall, when institutions choose a public chain platform, they take multiple factors into account, with stability, security, and privacy protection occupying a central position. This trend not only affects the current market dynamics but may also shape the future development direction of the blockchain ecosystem.