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Ethereum Rules RWA Market, Has $150 Billion BlackRock Boost — But ETH Price is Struggling
In a significant milestone for the Ethereum network, BlackRock has announced its plans to tokenize its $150 billion Treasury Trust Fund using Ethereum’s blockchain. This substantial deal marks a major victory for the platform and further solidifies its position as the go-to settlement layer for institutions.
The news comes as a welcome boost to Ethereum, which is currently struggling to find direction in the market. Despite this setback, the impact of BlackRock’s decision on the overall RWA (real-world asset) tokenization market cannot be overstated.
According to data from rwa.xyz, Ethereum now holds a staggering 56% dominance in the RWA tokenization space, with $6.2 billion worth of assets being tokenized on-chain. This significant shift further underscores the network’s leadership position in this sphere.
It is worth noting that the recent filing by BlackRock with the U.S. Securities and Exchange Commission (SEC) has sparked excitement among market analysts. The move marks a substantial step forward for the Ethereum platform, as it continues to cement its role as a reliable settlement layer for institutional investors.
Industry experts have been quick to react to this groundbreaking news, with Eric Connor, former Ethereum developer, hailing it as “the biggest real-world asset flow to Ethereum yet.” He added that “Ethereum just scored a monster win.”
Moreover, Onchain Foundation’s head of research, Leon Waidmann, emphasized the importance of deep liquidity and security in his statement. He noted that institutions will continue to follow these crucial factors when choosing a settlement layer.
As it stands, Ethereum remains extremely undervalued, with CryptoGoos stating, “BlackRock is building on Ethereum. They’re betting on ETH as the leading ecosystem.”
In light of this news, we can expect further growth and development within the RWA tokenization space. The potential implications are far-reaching, and it will be intriguing to see how the market responds in the coming days.
Sources:
* rwa.xyz
* SEC Filing
* Eric Connor’s statement
Source: https://coinchapter.com/ethereum-rules-rwa-market-blackrock-eth-price-analysis/
