Recent performances of crypto-linked stocks like CRCL and HOOD have sparked critical discussions among investors. Key questions include:
- Where will market growth emerge if stablecoin legislation passes?
- Why do assets like SBET and BMNR surge when tied to Ethereum?
- How does RWA (Real-World Assets) relate to Ethereum?
- Why is ETH seen as a long-term bet despite short-term volatility?
This article consolidates fragmented answers into a cohesive analysis, exploring the underlying logic and long-term vision for ETH’s value reassessment.
Part 1: The Data Perspective
Stablecoins: A Market Ready to Explode
Current Status: Stablecoin市值 hit an all-time high of $2583B, with rapid regulatory advancements:
- U.S. 《Genius》法案 passed Senate vote, moving to the House.
- Hong Kong’s 《Stablecoin Ordinance》生效 on August 1.
- U.S. Treasury predicts $2T+ market (10x growth) post-legislation.
RWA: The Silent Giant
- Growth: RWA市值 surged 460% (2023: $5.2B → 现在: **$243B**).
- Projection: By 2030–2034, tokenized assets could represent 10–30% of global tradFi ($40–120T), a 1000x+ expansion.
Institutional Adoption
- BlackRock’s BUIDL: $2.86B AUM, 95% on Ethereum.
- Securitize: $3.7B tokenized assets, 80% on ETH.
- Franklin Templeton’s BENJI: $743M AUM, hybrid链 deployment.
"The current institutional wave marks the transition from infrastructure to production-scale deployment."
Part 2: Why RWA Matters
Tokenization Advantages
- Programmability: Smart contracts enable automated, dynamic asset management.
- Settlement Revolution: T+0 vs. traditional T+2, reducing counterparty risks.
- Liquidity Boost: Fractional ownership unlocks 24/7 trading for illiquid assets (e.g., real estate).
- Global Access: Borderless participation via blockchain.
Top Tokenized Sectors
| Sector | Market Size | Examples |
|---|---|---|
| Private Credit | $143B | Figure, Maple |
| Treasuries | $74B | BUIDL, BENJI |
| Stocks | Emerging | Kraken’s xStocks |
| Commodities | $8.5B | PAXG (Gold) |
Part 3: The ETH-Trifecta: Stablecoins + RWA + DeFi
Synergy in Action
- Stablecoins: The backbone for programmable, borderless结算.
- RWA: Post-legislation, assets will flood链上, seeking合规化交易.
- DeFi: Mature protocols (e.g., Euler, Morpho) will absorb new assets, creating衍生品 and yield opportunities.
Case Studies
- Securitize’s sTokens: Bridge RWA to DeFi (e.g., sBUIDL on Euler).
- Ethena’s USDtb: Combines BUIDL for 4–5% yield floor.
"This cycle could mirror DeFi Summer’s explosive growth, driven by institutional-RWA integration."
Part 4: Why ETH Is Institutional Favorite
Key Reasons
- Security: Ethereum’s十年 track record.
- Liquidity: Deepest DeFi ecosystem.
- Decentralization: Neutral global platform.
Adoption Metrics
- ETH + L2s: 75.8% of RWA市值 ($75B on ETH, $22.45B on ZKsync).
- Competitors: Aptos at 4.23% ($5.4B).
Strategic ETH囤积
Institutions are hoarding ETH as:
- Digital oil for金融 infrastructure.
- Yield-generating collateral.
"ETH isn’t just a tech stock—it’s a new asset class powering the tokenized economy."
FAQs
Q1: How does stablecoin legislation benefit ETH?
A1: It unlocks $2T+ liquidity, much of which will flow into ETH-based RWA and DeFi.
Q2: Why is Ethereum preferred for RWA?
A2: Its security, liquidity, and neutrality make it the only viable global结算 layer.
Q3: What’s ETH’s long-term valuation thesis?
A3: As the “reserve asset” of tokenized economies, ETH’s scarcity is utility-driven.
👉 Discover how ETH’s trifecta is reshaping finance
👉 Why institutions are betting big on Ethereum
References:
- Beyond Stablecoins
- RWA.xyz 2024 Report
- The Bull Case for ETH
- Interview with Dr. Xiao Feng