Grayscale's research report states that Ethereum leads all public blockchains in the following five areas: 1. Stablecoins Approximately half of all stablecoins are issued on Ethereum, with a total value nearing $140 billion. 2. Tokenized Assets Ethereum accounts for about 40% of the overall tokenized assets market—more than twice the size of the second-place competitor. Issuers include BlackRock, WisdomTree, Invesco, and others. 3. Number of Applications Over 2,000 applications on mainnet, plus approximately 6,000 in the Layer 2 ecosystem. 4. Developer Activity Ethereum leads all other smart contract platforms in developer engagement. 5. Investment Products ETH-related ETP assets in the U.S. market exceed $13 billion, and CME futures open interest surpasses $3 billion. However, in my view, the scale is still far from sufficient—the entire industry is still in its very early stages. The true era of massive growth has yet to arrive. https://t.co/Swqa0oUSRD
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