Wall Street broker Bernstein said in a research note on Monday that the unique selling point of the Ethereum blockchain is its role as a decentralized computer.
Inflow into the ether
The broker said that as institutions realize the network’s value proposition, the funds traded on exchanges are increasing.
The report says blockchain “deserves love” because it is a useful technology, and he acknowledges that Ethereum’s peer Bitcoin benefits from its perception of value or digital gold.
“Stable blockchain use cases such as Stablecoins and Scrinemization are native to Ethereum,” Gautam Chhugani analysts wrote.
The report notes that companies using Stablecoin technology are paying transaction fees to the Ethereum blockchain.
The report notes that as institutions become increasingly aware of the inherent value of the network, Ether ETF inflows have begun to absorb.
Bernstein said that over the past 20 days, Ether ETF inflows reached $815 million and net inflows were $658 million.
“The narrative surrounding the value accrual of public blockchain networks is a key turning point,” the broker said.
Read more: ETH SURGES With live ETF inflows reaching 15 days, traders watch the $2,540 level
