CoinWorld news, on August 15, JPMorgan 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 unexpected performance may continue. According to the bank's analysts, a series of tokens pegged to the US dollar—following the passage of the 'GENIUS Act' last month, which provides a regulatory framework for stablecoins—are expected to influence Ethereum's price, even if these assets are issued on layer two networks rather than directly on the Ethereum main chain. Analysts stated: 'We believe that Ethereum is becoming a pathway to directly access the expected rapid growth opportunities of stablecoins, as the Ethereum network hosts most of these stablecoin assets, whether directly hosted as L1 or indirectly hosted through some L2.'