The first ETHConf has concluded. What new direction is the Ethereum ecosystem betting on?

On June 10, 2026, the inaugural ETHConf hosted by ETHGlobal officially concluded in New York. This conference attracted over 2,000 attendees, more than 150 speakers, and participation from over 100 companies, with stablecoins, institutional adoption, DeFi, payments, infrastructure, and protocol upgrades becoming the key topics.

Compared to the past markets familiar with DeFi Summer, NFT booms, and Meme narratives, the signals released by this conference are noticeably different. Stablecoins, real-world assets (RWA), Layer2, institutional adoption, and on-chain financial infrastructure have become the focus of discussion, and the development focus of the Ethereum ecosystem is also undergoing new changes.

Over the past two years, new narratives such as SOL, BTCFi, and AI Agents have continuously attracted market liquidity. Ethereum has experienced several important milestones, including ETF approvals, the Dencun upgrade, and Layer2 expansion, but ETH’s price performance has at times lagged behind Bitcoin and some emerging public chains. This has led the market to reconsider: in this new cycle, what will Ethereum rely on to regain growth momentum?

The answer provided by the first ETHConf may not lie in short-term hot topics, but in the competition for long-term financial infrastructure.

What signals did ETHConf 2026 release?

As ETHGlobal’s first large-scale developer conference, ETHConf did not focus on price and market sentiment but instead centered on the development direction of the Ethereum ecosystem in the coming years.

From the official topics, stablecoins, DeFi, payments, infrastructure, protocol upgrades, and institutional adoption became core keywords. Official data shows that over half of the attendees are decision-makers, and developers, institutions, and enterprises from more than 60 countries and regions worldwide participated in the discussions.

Compared to the focus on liquidity mining and high-yield protocols during the DeFi Summer of 2020-2021, this ETHConf feels more like a discussion on how to make Ethereum part of the global financial system.

With ETF approvals and more institutions entering the digital asset market, the market’s requirements for public chains have shifted from purely transaction performance to security, stability, and long-term scalability. In these areas, Ethereum still boasts the most mature developer ecosystem and asset accumulation.

For the market, the conclusion of ETHConf does not signify the end of an event but rather the beginning of a new phase.

Stablecoins and RWA are becoming new growth drivers

In recent years, Ethereum’s greatest advantage has always been assets and liquidity.

Whether it’s stablecoins like USDT, USDC, or the large amount of locked assets in DeFi protocols, Ethereum has always been one of the most important on-chain financial infrastructures. Moving into 2026, this advantage is beginning to extend into the real-world asset sector.

According to data from RWA.xyz, as of June 2026, the total value of RWAs on Ethereum is approximately $15.5 billion, accounting for about 58% of the entire RWA market, maintaining its industry-leading position.

Earlier this year, multiple institutions reported that Ethereum’s share of RWA TVL once reached about 65.5%. Treasury tokenization, on-chain funds, and credit assets remain the main sources of growth.

The so-called RWA in the market essentially refers to the process of traditional financial assets gaining higher liquidity and lower settlement costs through blockchain technology, with stablecoins serving as a crucial bridge connecting on-chain finance and the real world.

Compared to Meme and short-term hot topics, the development pace of stablecoins and RWA is slower, but behind it lies a traditional financial market worth hundreds of trillions of dollars. Therefore, more and more institutions are beginning to see Ethereum as a foundation for digital finance infrastructure, not just a smart contract blockchain.

This is also why stablecoins and RWA are repeatedly discussed topics at ETHConf.

After Layer2 expansion, Ethereum is re-finding its value capture methods

Over the past two years, one of the biggest changes in Ethereum has come from Layer2.

The Dencun upgrade significantly reduced data costs for Rollup networks, and networks like Base, Arbitrum, and Optimism have seen continuous growth in transaction volume, with many user activities gradually migrating to Layer2.

While the prosperity of Layer2 has enhanced the overall ecosystem’s scalability, it has also sparked discussions about ETH’s ability to capture value.

Some investors believe that as a large portion of transaction activity shifts to Layer2, the mainnet transaction fee revenue for ETH is affected, weakening ETH’s value support.

Others argue that Ethereum is gradually shifting from an execution layer to a settlement and security layer. In the future, more applications and transactions will occur on Layer2, while ETH’s mainnet will handle final settlement and security.

Meanwhile, Ethereum’s network security continues to strengthen. Industry research shows that over 32 million ETH are staked, worth more than $1 trillion.

In a sense, Ethereum is gradually becoming the security backbone of the entire ecosystem, no longer just a transaction execution platform.

This role change also indicates that the market’s valuation logic for ETH is undergoing a transformation.

Institutional adoption is changing Ethereum’s development logic

Compared to the previous cycle, one of the most obvious changes in the Ethereum ecosystem is the increasing influence of institutions.

After the approval of spot ETH ETFs in 2024, Ethereum has gradually entered the view of traditional financial institutions. At the same time, more asset management firms, payment institutions, and fintech companies are focusing on stablecoins and asset tokenization.

In the past, discussions about Ethereum mainly focused on DeFi, NFTs, and on-chain innovation; now, institutions are more concerned with settlement efficiency, asset custody, compliance frameworks, and on-chain financial infrastructure.

In fact, the RWA market itself is also growing rapidly.

Multiple research institutions predict that by 2026, the on-chain RWA market could surpass $100 billion, with long-term forecasts reaching trillions of dollars.

This indicates that Ethereum is gradually transforming from an “innovation experimental platform” into a “digital financial infrastructure.”

Market perceptions of ETH are also changing accordingly.

Will AI, payments, and on-chain identity become the next opportunities?

Besides stablecoins and RWA, another topic worth noting at ETHConf is AI and on-chain identity.

As AI Agents, autonomous economies, and machine payments concepts emerge, more developers are contemplating how machines will exchange value in the future, and how identity and payment systems will be built.

Ethereum’s long-standing wallet system, stablecoin network, and account abstraction technology provide infrastructure support for these new applications.

Meanwhile, the ongoing digitalization of global payment networks has renewed interest in on-chain payments. From Visa, Stripe, to PayPal, more traditional payment institutions are exploring stablecoin settlement solutions, with Ethereum remaining one of the most important underlying networks for stablecoins.

Although these directions still require time to reach large-scale adoption, the market is already beginning to see them as key variables for the next phase.

Compared to short-term hot topics, the Ethereum ecosystem is betting on longer-term growth logic.

Can ETH regain market attention?

Over the past year, narratives like SOL, BTCFi, and AI Agents have continuously attracted capital inflows, while Ethereum has appeared relatively subdued.

But based on historical experience, Ethereum’s advantage has never been about creating short-term hotspots but about continuously attracting developer, asset, and institutional liquidity.

Whether it’s DeFi Summer, NFT booms, or Layer2 expansion, Ethereum always finds its position in new cycles.

Today, stablecoins, RWA, institutional adoption, and on-chain financial infrastructure are becoming the new main themes, and these are precisely the areas where Ethereum has the greatest advantages.

As of now, over 32 million ETH are staked, Ethereum continues to hold more than half of the on-chain RWA market share, and ETHConf has sent signals of ongoing institutional adoption and the development of on-chain capital markets.

For the market, the conclusion of ETHConf is not an end but rather the beginning of a new narrative for Ethereum.

Summary

The first ETHConf in 2026 demonstrates that the Ethereum ecosystem is transitioning from the past era of DeFi and NFTs toward a new stage driven by stablecoins, RWAs, Layer2, and institutional adoption.

Compared to chasing short-term hot topics, Ethereum is betting on longer-term competition for financial infrastructure. Data shows that over 32 million ETH are staked, Ethereum holds more than half of the RWA market share, and the entire asset tokenization market is still rapidly growing.

For ETH, the next growth driver may no longer come from a single application explosion but from the continuous expansion of the entire on-chain financial system.

FAQ

When did ETHConf 2026 end?

ETHConf 2026 officially concluded on June 10, 2026, in New York. It was the first ETHConf conference organized by ETHGlobal.

What were the main focus areas of ETHConf 2026?

ETHConf 2026 mainly focused on stablecoins, DeFi, payments, Layer2, infrastructure upgrades, and institutional adoption.

Why are stablecoins and RWA considered new growth directions for Ethereum?

Stablecoins and RWAs address the digitalization needs of traditional finance, and Ethereum remains one of the most concentrated on-chain asset and liquidity infrastructures.

How many ETH are currently staked?

As of 2026, over 32 million ETH are staked, worth more than $1 trillion.

Can ETH regain market attention in the future?

ETH’s core advantages still lie in its developer ecosystem, institutional adoption, and on-chain financial infrastructure, with stablecoins, RWA, and asset tokenization potentially serving as key growth drivers in the next phase.