NFT

Galaxy Report: ETH Dominates Enterprise Blockchain Adoption with Use Cases like NFT and RWA Tokenization

ChainCatcher news, according to Bitcoin.com, based on a report by Galaxy Digital's Vice President of Research Christine Kim, over 50 traditional companies, including financial institutions like Deutsche Bank and Paypal, as well as brands like Louis Vuitton and Adidas, are developing cryptocurrency-specific applications on Ethereum and its L2 networks, focusing on non-speculative use cases such as RWA tokenization, NFTs, Web3 gaming, and scalable infrastructure.The report states that Ethereum is leading in RWA tokenization, with the value of managed assets nearly 10 times that of Stellar. Among 20 financial institutions building crypto infrastructure, 13 are issuing RWA, including BlackRock's BUIDL. Stablecoins are also thriving on Ethereum, with Paypal's PYUSD and Robinhood's USDG driving a 70% supply surge in 2024, while Ethereum holds over 50% of the $400 billion stablecoin market.Investment in scalable infrastructure emphasizes enterprise adoption. Deutsche Bank is developing a compliant financial solution on Ethereum L2 with ZKSync, while Sony's L2 project Soneium targets gaming and entertainment. These projects highlight Ethereum's role as a customizable foundation for enterprise-grade blockchain.Additionally, the centralized roadmap for Ethereum L2 balances scalability and security, attracting institutions seeking effective on-chain solutions. Regulatory tailwinds, including the SEC's focus on tokenization and collaborations like Stripe's $1 billion acquisition of stablecoin platform Bridge, indicate increasing mainstream adoption.Galaxy's report concludes that Ethereum remains the preferred chain for finance-focused crypto services, with RWA and stablecoins expected to expand by 2025. Kim noted, "As the most decentralized, widely covered, and longest-running general-purpose blockchain, Ethereum serves as a gateway for many institutions to incubate and launch finance-focused crypto services and products."

Data: In the past 7 days, NFT trading volume decreased by 35.15% month-on-month to $112.7 million, while the number of buyers and sellers both increased by over 500% month-on-month

ChainCatcher news, according to Crypto.news, based on CryptoSlam data, the NFT trading volume in the past 7 days has dropped to $112.7 million. This is a decrease of 35.15% compared to the previous week. However, market participation has significantly increased, indicating that despite the lower overall value, interest from new traders is rising. The number of NFT buyers surged by 624.41% to 203,994; the number of NFT sellers increased by 519.61% to 158,805; and the number of NFT transactions slightly decreased by 1.41% to 1,443,007.Ethereum network trading volume decreased by 41.25% to $56 million, while the number of buyers rose by 81.43% to 30,598. The Mythos Chain network ranked second with a trading volume of $13.9 million, an increase of 4.66%. The Solana network, despite a 32.56% decline, maintained its third position with $11 million. The Polygon (formerly MATIC) network performed strongly, ranking fourth with a trading volume of $8.1 million, an increase of 10.76%. The Bitcoin network fell to fifth place with a trading volume of $6.7 million, a decrease of 71.42%.The best-selling NFTs of the week are as follows:Uncategorized Ordinals #8912771: $7,749,449 (80.1296 BTC)CryptoPunks #2550: $331,955 (125 ETH)CryptoPunks #793: $146,683 (53.5 ETH)CryptoPunks #9634: $128,988 (47.5 ETH)CryptoPunks #9701: $122,883 (45 ETH)
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