J.P. Morgan analysts issue bullish verdict on Ethereum’s rally

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J.P. Morgan analysts issue bullish verdict on Ethereum’s rally originally appeared on TheStreet.

J.P. Morgan analysts described Ethereum as one of the most direct ways to benefit from the rapid growth of stablecoins.

“We think Ether is emerging as a direct way to gain exposure to the expected meteoric growth in stablecoins as the Ethereum network hosts most of these stablecoin assets,” the analysts said in an August 14 client note.

Stablecoins are dollar-pegged digital tokens like USDT and USDC — have become a bedrock of crypto transactions, with more than $264 billion in total market capitalization. Ethereum remains the dominant network for these assets, powering a significant share of their transaction volume.

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Data shows Ethereum-based stablecoins processed $3.48 trillion in transfers over the past month, up 16.2% from the previous month, even as active addresses dipped slightly to 38.54 million.

J.P. Morgan’s call comes amid a broader market rally. Ether is up 17.6% over the past week and more than 46% over the past month. Bitcoin dominance stands at 57.5%, while Ethereum accounts for 13.6% of the total crypto market cap, now valued at $556.8 billion.

The analysts said Ethereum’s role as a settlement layer for stablecoins could make it increasingly attractive to investors looking for blockchain assets with real-world payment utility. They contrasted Ether’s “utility-linked exposure” with Bitcoin’s positioning as “digital gold,” suggesting both assets could play complementary roles in diversified portfolios.

With over 120.7 million ETH in circulation and gas fees hovering near 0.83 gwei, the network has maintained relatively low transaction costs despite surging activity. Traders are now watching whether Ethereum can break its November 2021 all-time high of $4,878.

J.P. Morgan analysts issue bullish verdict on Ethereum’s rally first appeared on TheStreet on Aug 15, 2025

This story was originally reported by TheStreet on Aug 15, 2025, where it first appeared.

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