B4Bit
06/16 12:19
Lubin is basically referring to the snowball effect unfolding as corporations rush to build their Bitcoin Treasury. Last week, GameStop and Trump Media were leading the way into Bitcoin adoption, along with MicroStrategy continuing to add more.
As DeFi gets more blended with Wall Street, Ethereum co-founder Lubin believes that it would subsequently lead to more participation from “Main Street” who will build “end user apps for consumers and enterprises that go beyond DeFi,” which are scalable and user-
Lubin highlighted the shift in enterprise attitudes, stating that companies can now adopt DeFi without fear of regulatory crackdowns or unpredictable enforcement actions. The influx of top-tier Web2 developers into the Web3 space, driven by its community-oriented model, reflects this growing confidence, he said. “The paradigm shift to an increasingly decentralized system of the world is accelerating,” wrote Lubin.
Last week, SharpLink Gaming became the largest publicly traded firm with an Ethereum Treasury. The company has acquired a total of 176,271 ETH at an average price of $2,626 per ETH.
On the other hand, inflows into spot Ethereum ETFs also surged over the past few weeks, highlighting greater institutional accumulation. With companies like BlackRock dominating the inflows, more TradFi capital rotation into digital assets is likely to continue moving ahead.
Amid the ongoing geopolitical tensions, both Bitcoin and Ethereum are forming a strong base at key support levels of $105,000 and $2,500, respectively.
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