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Ethereum has reclaimed dominance in both stablecoin supply and real-world asset (RWA) activity from Layer 2 networks, according to Michael Geike. New data from Coinbase Institutional points to a clear rotation of stablecoin supply and user engagement back to the Ethereum mainnet.
Geike suggests this shift is likely influenced by improving regulatory clarity in the sector.
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Geike previously highlighted a landmark U.S. regulatory decision clarifying that digital commodities such as BTC and ETH are not securities, which increased regulatory clarity in the crypto sector (read more). He also covered the rise in tokenized stocks, noting their growth from $5.49 million to $916 million over three years as real-world asset tokenization expanded (read more). These developments provide context for the renewed activity on Ethereum.