Fidelity chose @ethereum to issue its first ever stablecoin.
FIDD, the Fidelity Digital Dollar, is issued by Fidelity Digital Assets, an OCC-chartered national trust bank.
Fidelity at a glance:
→ 50m+ individual investors
→ $17.9 trillion in assets under administration
→ 5.5 million daily average trades
With FIDD, Fidelity is bringing more of the capital markets lifecycle onchain.
Another major FI making Ethereum the default chain in its digital asset strategy.
Live in production on @ethereum and in DeFi on Curve and Uniswap.
$ETH is going to $10,000 sooner than anyone thinks
Price is down 60% from the top, but everyone is looking at the wrong scoreboard
Price is a function of supply and demand. Let's start with demand:
1. Stablecoins hit a record $320 billion in May, their 4th straight monthly all-time high, and over $175 billion of them live on Ethereum
2. Tokenized assets hit a record $28.9 billion, with tokenized treasuries at $16.1 billion
3. Ethereum holds roughly 53% of all tokenized real-world asset value. When @BlackRock and @FTI_US needed a home for their funds, they chose Ethereum. Every dollar of that settles on ETH rails
In March, @SECPaulSAtkins and @CFTC published a joint framework that classifies ETH as a digital commodity. Binding on both agencies, first time ever.
Five days before that, BlackRock launched a staked ETH ETF so institutions can earn the yield without ever touching a validator
And ETF flows just flipped positive for the first time in 8 weeks
The third wave is what nobody's pricing: the supply is disappearing
1. Over 39 million ETH is staked, roughly a third of the entire supply
2. Exchange balances fell to 8.3% of supply in May, a multi-year low per @glassnode
That's the exact setup Bitcoin had before the 2024 ETF run: demand showed up and there weren't enough coins to go around
This thesis doesn't even need the burn. It needs the tradeable float to keep shrinking while the demand rails keep growing. BOTH are happening NOW.
At $1,900 you're paying 2021 prices for a network that's never seen stronger fundamentals
$10K $ETH is FUD
Follow @BitcoinJesusETH for more
$1 Milk Road PRO / track my real-time portfolio, every buy and sell (link in bio)
Uniswap is generating $5.2m in daily fees right now
Above any protocol other than USDC + USDT and far more than Hype, Pump, etc
https://t.co/3xIwOIq4GJ
The @RobinhoodApp Chain quickly turned into a massive breakout product garnering more volume than many established crypto DEX...
- uses $ETH as the native gas token
- transaction fees denominated in ETH
- finality on @ethereum L1
ETH is money... see it clearly now?
@BitMNR@arbitrum@ajwarner90
$BMNR
Career update:
This is my last month contributing to the @ethereumfndn.
My time at the EF was full of great adventures. I was fortunate to work on a key part of the ecosystem: supporting founders.
We helped tens of startups get funded, launched programs I'm proud of, and backed builders through all sorts of initiatives.
Ethereum is a net good for the world. At a time when censorship and surveillance are at an all time high, it matters more than ever.
Thank you to the ethereum community for the feedback and support that made these programs better.
More soon.
@TrustlessState@lay2000lbs I cant believe I'm the one who has to tell you ETH appears to be money on RH chain right now
its the base pair for trading, the highest volume asset, and the gas token to pay for blockspace
It also burns ETH on L1 to pay data storage fees
update: after careful deliberation from the team in the last 24 hours
world has made the decision to migrate off of solana and onto @RobinhoodCrypto chain
this tactful pivot was not made lightly
our sincere appreciation goes out to the solana foundation and community
@ViktorBunin I agree, prayer call should have a social consent.
You may do this in arab, malaysia, Indonesia, pakistan, but not in non-muslim majority country like US or most western countries.
And yes, I am a Muslim.
@TrustlessState Welcome to the football. Unlike many American sports, football or soccer, is low scoring game.
No shootouts will make the match unfair, exhausting, and potentially endless.
Imagine they play the team won after ++180 minutes, then they will not be recovered on the next match.