JPMorgan says Ethereum is set to soar on the ‘’meteoric growth’’ of stablecoins, which mostly run on its network.

Three high-profile exploiters have taken advantage of ether’s rally to liquidate stolen funds, pocketing tens of millions in extra profits.

Ethereum rallies past $4,600 as J.P. Morgan analysts say the token offers “direct exposure” to the booming stablecoin market, which processed $3.48 trillion in transfers last month.