According to BlockBeats, on August 15, JPMorgan Chase pointed out in a report on Thursday that as Wall Street begins to issue a large number of stablecoins within the Ethereum ecosystem, ETH's recent outperformance may continue.
According to the bank’s analysts, a range of dollar-pegged tokens — following last month’s passage of the GENIUS Act, which provides a regulatory framework for stablecoins — are expected to impact the price of ethereum, even if these assets are issued on second-layer networks rather than directly on the main ethereum chain.
“We believe Ethereum is becoming a direct route to the anticipated high growth opportunity of stablecoins, as the Ethereum network hosts the majority of these stablecoin assets, either directly as L1 or indirectly through some L2,” the analysts said.
