Ethereum Emerges as a Core Payment Layer for On-chain Finance

▲ Ethereum (ETH) ©

Ethereum is fundamentally changing its role in the market, moving beyond a simple platform to establish itself as the 'payment infrastructure for on-chain finance'.

According to cryptocurrency media outlet Bitcoinist on April 24 (local time), Ethereum (ETH) is rapidly emerging as a core payment layer for the digital economy, alongside a recent surge in network activity. The expansion of stablecoin transactions, in particular, is driving this change, positioning Ethereum as the central hub for on-chain value movement.

The key indicator is stablecoins. According to staking infrastructure company Everstake, stablecoin transfer volume on the Ethereum network surged by 119.3% since 2026. Billions of dollars worth of funds are currently moving on the network daily, with weekly transfer volumes ranging from $500 billion to $900 billion. In some periods, transactions reaching $1 trillion have also occurred.

This trend is interpreted not as a simple market cycle, but as a structural change. As stablecoin usage expands, Ethereum is acting as a critical infrastructure connecting traditional financial systems with blockchain, further solidifying its status as the 'payment layer' for on-chain finance.

In terms of price, it has also reached a significant turning point. Ethereum's price recently rose close to $2,400, then underwent a correction, trading at around $2,314. Notably, the realized price, estimated at approximately $2,340, represents the average purchase price for on-chain investors and has historically acted as a key zone of strong resistance or support.

The market believes that if this zone is converted into a support level, it is highly likely to lead to a strong upward phase. On the other hand, the price has fallen by about 2% and trading volume has decreased by more than 12% in the past 24 hours, indicating a short-term breather. Ultimately, whether Ethereum can maintain its status as payment infrastructure and connect that to a price rebound has emerged as a key variable that will determine the future direction of the market.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*