The Ethcc crypto scene in Cannes shows how Ethereum has come

Cannes – The new Wall Street plumbing is under construction Ethereum And this week, its architects took over the same villas in the French Riviera and the Red Carpet places that house the Cannes Film Festival in May.

THE Conference of the Ethereum communityOr ETHCC, took over the city by the sea which swarmed founders of crypto, developers and certain institutional giants who now build at the top of the infrastructure.

The Crypto elite has climbed on the emblematic steps of the Red of the Palais Festivals of – A cinematographic monument now reused as a scene for the European flagship event of Ethereum.

“The atmosphere this year has been palpable in Cannes,” said Bettina Boon Falleur, the power behind the ETHCC in the past seven years. “The prestige of the location, combined with the quality of the talks, strengthened the stature and the goal of Ethereum in the wider ecosystem.”

Private parts have extended through the areas of the cliff and exclusive seaside resorts, but the conversations concerned less the action of the prices and more on the evolutionary role of the blockchain as a back-end of world finance.

The ETHCC, now in its eighth year, followed the trajectory of Ethereum from the Scrappy experience with the institutional dorsal thorn.

“This impact was undoubtedly undoubtedly this year,” said Falleur. “From Robinhood embracing decentralized financial infrastructure via arbitrum to local governments such as the city of Cannes exploring deeper integration with the cryptographic economy.”

Indeed, one of the most daring movements came this week RobinWho has become the first American company listed on the stock market to launch token chain token actions.

During a showcase of products held inside a Belle Époque manor overlooking the sea, Robinhood unveiled a new Crypto strategy – including the possibility for European users to negotiate American actions and ETFs from Tokenized via Arbitrum, a Layer 2 network built on Ethereum.

The announcement helped push Robinhood’s stock exceeds $ 100 for the first time, placing new summits of all time and a rally of more than 30% since it was snubbed by the S&P 500 During a recent rebalancing.

Ether, the token from the Ethereum blockchain, increased by almost 6% during the week and several public actions linked to the blockchain gathered next.

Bitmine immersion technologiesA company that mines Bitcoin won more than 1,200% Since the announcement He would make ether his main active cash reserve. Digital bitwhich Recently out of the Bitcoin farm To “become a pure game”, Ethereum Staking and Treasury Company, won more than 34% this week. And Gaming SharplinkWho added more than $ 20 million ether to his balance sheet this week, jumped more than 28% on Thursday.

ETHE’s entries also increase – a sign that institutional investors warm up.

Ether is still down more than 20% this year and is far behind Bitcoin in market capitalization and adoption. But the monitoring of ETH funds has experienced two consecutive months of mainly net entries, according to Coinglass data. However, the Ether ETHER only total $ 11 billion – against $ 138 billion in the Bitcoin ETF.

Institutions do not bet on Ethereum for the threshing media – they bet on infrastructure.

Even when prices are stalling and the network faces contrary winds from slower basic layer income and faster rivals like Solana, the momentum moves to usefulness.

“Ethereum is connected to these main transactional systems,” said Paul Brody, a world leader in blockchain at EY, in CNBC on the sids of ETHCC. “Investors, savers, people who make money – they will start to move from some of the old mechanisms to do this in Ethereum ecosystems that can do these transactions faster, cheaper, but also very important, with new important features.”

Deutsche Bank recently announced that he was building a tokenization platform on zksync – A faster and cheaper blockchain built above Ethereum – to help asset managers to emit and manage tokenized funds, stablecoins and other active worlds while meeting regulatory and data protection requirements.

Jamming And Kraken also rush to have the cross between traditional stocks and crypto.

Coinbase filed with the SEC to offer tokenized public actions, a decision that would diversify its source of income and put it in more direct competition with brokerage houses like Robinhood and Etoro.

Kraken announced his intention to offer the 24/7 trading of American actions tokens on certain markets abroad.

BlackrockThe tokenized monetary market fund, BUIDL – launched on Ethereum last year – offers qualified investors on access to the yield chain with the buyouts established in USDC in real time.

Stablecoins, on the other hand, continue to serve as a skeleton of the Ethereum financial layer.

Circle USDC – The second largest stablecoin – Always rule about 65% of its volume on Ethereum rails. According to the last “Stablecoins condition” Report, Ethereum represents almost 50% of Stablecoin’s market share.

“ETHCC manufacturers and contributors do not continue the next bull race,” said Fallerur, “they set the foundations to make Ethereum at home for the next billion users.”

Even if more recent blockchains praise faster speeds and costs, Ethereum proves its power as a confidence network.

Vitalik Buterin, co -founder of Ethereum, told CNBC in Cannes that there was an assumption that institutions only care about the scale and speed – but in practice, it is the opposite.

“Many institutions tell us essentially about our faces that they appreciate Ethereum because it is stable and reliable, because it does not drop,” he said.

Buterin added that companies often ask questions about privacy and other long-term characteristics-the types of concerns that institutions, he said, “really appreciate”.

Tomasz Stańczak, the new co-executive director of Ethereum Foundationsaid the institutions choose Ethereum for the same basic reasons.

“Ten years without stopping for a while. Ten years of upgrades, with enormous dedication to security and resistance to censorship,” he said.

He added that when institutions send orders to the market, they want to be “absolutely sure that their order is treated fairly, that no one has a preference, that the transaction is really executed when it is delivered”.

These guarantees have become increasingly precious as stablecoins and tokenized assets move in the dominant current.

The recent adoption by the Senate of the Act on Engineering, as well as the IPO of Circle, gave the industry a regulatory back wind and helped to strengthen the role of Ethereum as an infrastructure layer for tokenized finance.

The fundamental values ​​of Ethereum – neutrality, security and resistance to censorship – emerge as competitive advantages.

The real test is now whether Ethereum can evolve without losing its values.

“We don’t just want to succeed,” said Buterin from the main palace scene this week. “We want to be something that deserves to succeed.”

He said that hope is that future generations will look back and see a network that has really offered the opening, freedom and access without authorization to the masses.

But the week did not end in conference rooms, she closed with tradition. On the Balcony of Villa Montana, overlooking the Baie de Cannes, the Raave festival was on.

The guests dressed in white sipped cocktails while the DJ Tourna near the swimming pool, a crush curling from smoke machines.

This year, the co-founder of Chainlink, Sergey Nazarov, and the Defi Stani Kulechov icon, founder of Aave, stood at the top of the balcony overlooking the crowd and the horizon line of Cannes.

It was an appropriate snapshot of the momentum behind the institutional rise of Ethereum and the symbolic of the passage of web3 from niche experience to the financial pillar.

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