Since June, institutional purchases of ETH have accounted for 3.8% of the circulating supply, and stablecoins on the Ethereum chain account for 40% of blockchain fees.

According to Standard Chartered analyst Geoff Kendrick, institutional purchases of ETH have accounted for 3.8% of circulating supply since June, double that of Bitcoin. Furthermore, the passage of the US GENIUS Act has boosted stablecoin adoption, with over half of these stablecoins issued on Ethereum and accounting for 40% of blockchain fees. The report also noted that Ethereum developers plan to increase Layer 1 throughput tenfold to prepare for high-value transactions and the expansion of the Layer 2 ecosystem. Earlier, Standard Chartered Bank raised its year-end target price for Ethereum to $7,500, with the price expected to break through its all-time high of $4,866 in Q3.