The stablecoin market is expected to grow to $3.7 trillion, which may drive the value of ETH to rise significantly.

【Coin World】Background information: The current price of Ethereum (ETH) may be underestimated, especially against the backdrop of the stablecoin market expected to surge to $3.7 trillion by 2030. Fundstrat’s chief analyst Tom Lee analyzed the potential value of ETH based on the 15-fold growth target of the stablecoin market proposed by U.S. Treasury Secretary Scott Bessent.

Main event:

• Despite the passage of the GENIUS Act this week, the ETH price did not show significant reaction; instead, Circle’s CRCL and Coinbase’s COIN prices rose sharply.
• Stablecoins account for about 30% of the fees on the Ethereum network. In the past 30 days, Circle and Tether contributed over $700 million in network fees, with the top three fee contributors being stablecoin issuers.
• The current MVRV Z-score for Ethereum is 0.4, indicating that the ETH price is relatively cheap and there is significant room for a rise. Historical trends suggest that the ETH price could reach $4000 or even higher.

Potential impact: The explosive growth of the stablecoin market will lead to a significant increase in Ethereum network fees, possibly driving up the price of ETH. The current price level provides investors with a potential buying opportunity.