Although Ethereum’s price performance in 2025 did not meet market expectations, some industry experts believe that solely focusing on ETH prices may cause us to miss more significant structural changes. Kevin Rusher, founder of RAAC, pointed out that Ethereum’s true growth momentum is gradually emerging in stablecoins, tokenized assets, and institutional-grade payment applications, with 2026 potentially becoming a critical turning point.
From a price perspective, Ethereum experienced an overall decline of nearly 10% in 2025, which once led to cautious market sentiment. However, after January 2026, ETH showed signs of stabilization and rebound, with the price climbing back above the $3,000 mark. Short-term fluctuations still exist, but Rusher believes that prices do not fully reflect Ethereum’s current true development stage.
He emphasized that institutional investors are accelerating their adoption of the Ethereum network, especially in stablecoin issuance and settlement. Data shows that during the holiday season, the total value of stablecoins on the Ethereum network exceeded $59 billion, accounting for over 62% of the market share, significantly leading other mainstream blockchains. This trend continues to solidify Ethereum’s position in institutional-grade financial infrastructure.
In the realm of real-world asset tokenization (RWA), Ethereum’s advantages are even more apparent. Currently, the tokenized assets on Ethereum amount to approximately $12.5 billion, holding over 65% of the market share, far surpassing competing networks like BNB Chain, Solana, and Arbitrum. The rapid growth of tokenized gold trading is particularly notable, with related transaction volumes rising from $1 billion at the beginning of the year to over $4 billion, almost entirely concentrated within the Ethereum ecosystem.
Fund flows also confirm that institutional preferences are changing. In 2025, capital inflows into Bitcoin slowed significantly compared to the previous year, while inflows into Ethereum doubled. Multiple studies show that the proportion of asset management institutions holding Ethereum is now comparable to Bitcoin, with its share in some institutional portfolios continuing to increase.
Overall, the price slump of Ethereum in 2025 did not weaken its core position in stablecoins, RWA, and payments. As institutional funds continue to deploy and application scenarios expand, ETH’s fundamentals are undergoing profound changes. If this trend continues, 2026 could become a pivotal year for the market to reprice Ethereum’s value.
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