The price of Ethereum has soared in recent weeks, climbing from around $1,800 to reach a new all-time high of over $2,600. This remarkable surge is fueled by several factors: on-chain stablecoin activity reached a record high of $908 billion in April, indicating growing integration into the financial world, and USD Coin (USDC) has seen trading volume exceeding $500 billion in the past six months alone. Other stablecoins such as DAI and USDS are also experiencing significant growth, suggesting a diversified trend within this sector. 1 This increase is attributed to major corporations like Meta and Stripe actively exploring and developing stablecoin-based payment solutions. Experts believe the recent surge in Ethereum’s stablecoin activity points to its continued dominance as the blockchain of choice for dollar-denominated digital assets, despite competition from other chains and Layer 2 solutions. It remains a leading network for stablecoin transactions across alternative blockchains and platforms. *This is not investment advice.*