Institutional interest and demand for cryptocurrencies has been growing recently despite the market downturn. Diogo Mónica, co-founder and president of Anchorage, said that large institutions such as BlackRock have begun to actually participate in the cryptocurrency ecosystem in the past two years. Currently, the size of the institutional market is expanding. In addition, after the Shapella upgrade of Ethereum, the proportion of ETH pledged is quickly approaching 50%, and is expected to reach 70% to 80% in the future. Mónica believes that in order for cryptocurrencies to have the desired impact, regulation should occur at the federal level. He wants lawmakers and regulators to focus on regulating stablecoins, clarifying which regulator oversees digital assets and whether they are securities or commodities.