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Standard Chartered projects XRP will surpass Ethereum by 2028, driven by rising cross-border payments and growing trade disruptions.
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Tether plans to launch a U.S.-focused institutional stablecoin, aiming for compliance and transparency amid rising institutional interest.
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Crypto adoption gains momentum with Galaxy Digital’s Nasdaq move and BlackRock’s $66M BTC buy, signaling market maturity.
Welcome to the US Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see why Standard Chartered thinks XRP could soon leapfrog Ethereum, how Tether’s institutional pivot might reshape the stablecoin market, and how players like BlackRock, Galaxy Digital, and the Federal Reserve could shape crypto’s next chapter.
Standard Chartered says XRP Set to Outperform, Could Overtake Ethereum by 2028
As global trade tensions intensify, Standard Chartered sees a silver lining for crypto investors, urging them to focus on long-term winners poised to benefit from the disruption.
“Tariff noise creates the opportunity to look for long-term value/pick winners in Digital Assets for the next leg higher. Today we add XRP to that list of winners (BTC and AVAX other identified winners, ETH identified loser). XRP’s core use is as a cross-border and cross-currency payments platform. That part of Digital Assets is undergoing a shift higher in volumes, something we see continuing. By the end of 2028 we see XRP’s market cap overtaking Ethereum’s. That will make XRP the second largest (non-stablecoin) Digital Asset at that time. Keep looking for winners and HODLing those you already own,” said Geoff Kendrick, Standard Chartered’s Head of Digital Asset Research, in an email to COINOTAG.
Kendrick also pointed to Bitcoin’s resilience as a signal of what’s to come for the broader crypto market.
“Tariff mess will be over soon, and Bitcoin’s solid performance during the noise tells us a leg higher for the asset class will follow,” he added.
He highlighted XRP’s impressive performance historically: “XRP price rose 6x in the two months following Trump’s election victory, the strongest performance among the top 15 digital assets by market cap. This reflected market expectations that the SEC would drop its appeal of a court ruling concerning Ripple, as well as the potential for XRP ETFs to be approved under new SEC leadership.”
Importantly, Ripple has recently expanded its footprint in the financial services sector, announcing the acquisition of prime broker Hidden Road for $1.25 billion, aimed at enhancing its institutional offerings.
However, Kendrick believes the fundamentals—not just political developments—are driving XRP’s upward momentum. “We believe these gains are sustainable, not just because of recent leadership changes at the SEC but also because XRP is uniquely positioned at the heart of one of the fastest-growing use cases for digital assets—facilitation of cross-border and cross-currency payments. In this regard, XRPL is akin to the main use case for stablecoins like Tether: blockchain-enabled financial transactions that have traditionally been conducted through traditional financial (TradFi) institutions. This stablecoin use has grown 50% annually over the past two years, and we expect transactions to increase tenfold over the next four years, strengthening the growth outlook for XRPL,” he concluded.
Tether’s Big Play: Institutional-Grade Stablecoin Targets US Market
With institutional adoption accelerating, Tether’s plan to launch a U.S.-focused, institutional-grade stablecoin could be a defining moment for the stablecoin sector and a significant stride toward mainstream crypto integration.
Charles Wayn, co-founder of decentralized Web3 super-app Galxe, commented, “The news that Tether is planning to launch an institutional-grade stablecoin for the U.S. market is fantastic for the crypto industry. Tether pioneered stablecoins with its 2014 launch of USDT, which is now the third largest cryptocurrency globally. Unlike its main competitor, USDC, USDT has never undergone a formal audit, leading to periodic questions surrounding its balance sheet. Nonetheless, it commands a considerable share of the market, with a capitalization exceeding $144 billion, which is significantly larger than USDC’s $60 billion.”
Wayn expressed confidence that Tether’s push for enhanced transparency and compliance could solidify its position as a leader in institutional crypto adoption.
“This initiative, alongside Tether’s request for a full audit from a Big Four accounting firm, signals that the company is keen on regulatory alignment and aims to take a leading role in institutional adoption. Although USDT did not meet the EU’s MiCA directive for stablecoins, this new product is likely designed to comply with forthcoming U.S. regulations,” he stated.
Wayn further emphasized the role of major institutions, such as BlackRock, in fuelling current momentum within the sector. “There is no doubt that USDT will prioritize the timely launch of its new product. With major players like BlackRock recently purchasing an additional $66 million in Bitcoin and expanding their Real World Asset (RWA) BUIDL fund, we observe a rapid escalation in institutional adoption,” he remarked.
Crypto Chart of the Day
Stablecoins’ total market capitalization is currently close to its all-time highs, exceeding $210 billion.
Byte-Sized Alpha
– Analysts warn that a return to Quantitative Easing in 2025 could ignite a massive crypto rally, potentially pushing Bitcoin toward $1 million and causing a surge in altcoins.
– Zero inflows into Bitcoin ETFs and declining futures interest hint at waning investor confidence, although rising put contracts and positive funding rates suggest cautious optimism.
– Galaxy Digital has secured SEC approval to reorganize and is working towards a May 2025 Nasdaq listing, indicating renewed confidence in crypto amid improving U.S. policy support.
– Binance Research indicates RWA tokens may outperform Bitcoin during periods of tariff-induced macro pressures, potentially weakening BTC’s role as a diversification asset.
– MicroStrategy’s recent pause in Bitcoin acquisitions amid $5.91 billion in unrealized losses raises concerns over liquidity, debt, and broader institutional confidence.
– Possible Federal Reserve rate cuts could revitalize interest in crypto by elevating risk appetites and devaluing the dollar, although uncertainty remains amidst skepticism from industry giants like Larry Fink.
