Weekly Summary: Ethereum’s Resurgence This Summer
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<img src="https://cdn.sanity.io/images/s3y3vcno/production/7b8a9d7e4c64eac5c7e4e777f6cd1e8a90e51de0-4160x2690.jpg?auto=format&w=1920&h=1080&crop=focalpoint&fit=clip" /><br>It’s hard to believe that ETH was languishing at less than $1500 in April. Now it’s above $3800 again. Ethereum’s comeback is the story of the summer. Through ETFs ($2 billion inflows in two weeks), ETH treasury vehicles, and excitement around tokenization, the comeback is well and truly on. Institutions are in the driving seat. One of BlackRock’s key digital assets stars will lead Joseph Lubin’s ETH vehicle, SharpLink. As EY’s Paul Brody noted this week, with institutions, “Ethereum Has Already Won,” and is likely to continue winning for decades to come. The incumbency of the Network Effect—where a critical mass of transactions in stablecoins and tokenization gravitates toward Ethereum—makes it a de facto network. We’ll see.
In markets: While bitcoin held steady under 120k, altcoins did well. Most of the crypto market is looking relatively healthy these days. Additionally, President Trump hinted that Jerome Powell could soon cut rates (or face dismissal). If so, that would benefit risky assets like bitcoin and others. In other news: Roman Storm’s Tornado Cash trial intensified. A representative was on-site for updates. Elon has engaged X/Grok with the prediction market Kalshi. JP Morgan is set to offer crypto loans but is facing protests from crypto trade groups over data access.
See you next week.
