Jan van Eck, CEO of VanEck, has credited Ethereum with a major institutional boost, dubbing it ‘the Wall Street token’ and highlighting its central role in bridging traditional finance with blockchain innovation. He noted Ethereum’s crucial role in stablecoin transactions, calling it essential for banks and financial firms preparing for a surge in digital payments. He also emphasized Ethereum’s blockchain infrastructure as uniquely suited to meet this growing demand. His remarks come as the stablecoin market surpasses $280 billion in total supply.
Describing Ethereum as Wall Street’s digital backbone, van Eck signals a shift in how traditional finance views the network. He argues it is not just a speculative asset but a programmable platform with smart contracts and a thriving developer ecosystem, tools reshaping banking and asset management. Ethereum has also drawn technical attention.
Market analyst Ali Martinez says ETH is forming a head-and-shoulders pattern that could signal a trend reversal. The pattern points toward a potential move to the $2,400 level, even as the current price hovers around $2,927. In parallel, Ethereum has shown strength in recent sessions, rising about 8.5% in one of its strongest monthly stretches. Santiment data shows whales added roughly 934,240 ETH, valued at about $3.15 billion, over the past three weeks, signaling a decisive shift in market sentiment.
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