Yesterday,
@wmougayar presented a compelling framework for valuing Ethereum at
@ethconf
His core argument: most people are still valuing Ethereum as if it were just another crypto asset, while Ethereum increasingly behaves like digital public infrastructure.
The internet created trillions of dollars in value that never appeared directly on balance sheets. Ethereum is doing something similar by creating trust, coordination, settlement and economic activity for applications, institutions, stablecoins, tokenized assets and entire digital economies.
If you only look at fees or short-term price action, you miss much of the value being created across the ecosystem.
Today, William joined Chris Giancarlo for a fireside chat on the future of stablecoins and CBDCs.
The message was clear: adoption is accelerating.
Just as credit cards transformed how value moved across the internet, blockchain networks are making transfers faster, cheaper, more transparent and globally accessible.
And when it comes to stablecoins, Ethereum remains the giant.
It settles the majority of stablecoin activity, secures billions in value every day, and continues to benefit from growing institutional adoption.
As regulatory clarity improves and frameworks such as the CLARITY Act move forward, Ethereum’s advantage becomes even more powerful.