Ethereum (ETH) has recently seen positive movements after several major financial institutions announced their increasing interest in expanding the use of the Ethereum network in decentralized finance (DeFi) applications and smart contracts. Among these institutions are:
BlackRock: In August 2022, launched a tokenized cash fund on the Ethereum network to enhance financial transparency and efficiency.
Deutsche Bank: In April 2023, began working on a Layer 2 project using ZKsync technology to develop modern financial transactions via Ethereum.
Visa: In November 2021, launched a platform for issuing and managing stablecoins on blockchain networks, including Ethereum.
PayPal: In March 2023, began using Ethereum to support its stablecoin and settle payments.
Fidelity: In September 2021, established an investment fund based on Ethereum, to integrate traditional assets with blockchain technology.
State Street: In January 2022, partnered to convert traditional assets into digital tokens via the Ethereum network.
At the same time, Ethereum burn rates (ETH Burn) continue to rise, reducing the total supply and increasing upward pressure on the price. Many analysts believe that Ethereum may have the opportunity to achieve strong gains in the coming months, especially with institutional expansion and increased usage in AI and Web 3.0 projects.