Since June, institutional purchases of ETH have accounted for 3.8%, and stablecoins account for 40% of on-chain fees

According to a report from HashiChain, based on the analysis by Standard Chartered analyst Geoff Kendrick, since June, institutional purchases of ETH have accounted for 3.8% of its circulating supply, which is twice that of Bitcoin. Additionally, the passage of the US GENIUS Act has driven the adoption of stablecoins, with more than half of stablecoins issued on Ethereum, accounting for 40% of blockchain fees. The report also noted that Ethereum developers plan to increase Layer 1 throughput by 10 times in preparation for high-value transactions and Layer 2 ecosystem expansion. Previously, it was reported that Standard Chartered has raised its year-end target price for Ethereum to $7,500, expecting to break the historical high of $4,866 in the third quarter.