Ethereum and the “Internet Moment”: Why the Network Was Compared to the Web

Ethereum was called the “internet moment” for the global financial system on June 19, 2026, and this thesis has already caught the attention of traders, long-term holders, and DeFi users. The idea is simple: supporters of the network believe that Ethereum’s open infrastructure is going through the same path that the open internet once did.

This was said by Etherealize co-founder Vivek Raman, and zkSync founder Alex Gluchowski added that Ethereum remains the only neutral base where major financial players can coexist. In the research, the authors drew parallels between Ethereum, the open internet, and Linux, and also recalled the failures of closed banking blockchain projects between 2017 and 2022. This is no longer just about ideas. There are numbers and real money here too.

Why is Ethereum compared specifically to the internet?

The comparison is not accidental. In the 1990s, many companies also believed the future belonged to closed corporate networks, but the open internet won. The authors of the research say that a similar logic is now at work for blockchains: open rules often beat systems where one company controls everything.

For Ethereum, this is also important because the network does not require permission to launch applications or standards. That is how ERC-20 and ERC-721 emerged, and then stablecoins, NFTs, and thousands of crypto projects grew on top of them. And here it is no longer about a pretty idea, but about practice: if a standard works, people adopt it. That is why the comparison with the web sounds less like praise and more like an attempt to describe a real growth model.

What does “neutral infrastructure” mean for business?

Alex Gluchowski put it bluntly: Stripe wants to build on Tempo, JP Morgan on its own Chain, Circle on Arc, and these players will not agree with each other. That is why, in his view, Ethereum has the advantage. Big companies do not like building on someone else’s foundation if that foundation belongs to a competitor.

This is where the concept of credible neutrality comes in. The network’s rules are transparent, the same for everyone, and do not change for one corporation or one regulator. For international business, that sounds dry, but in practice it means less political risk and less fear that someone will suddenly rewrite the rules of the game. For readers, this may look like a technical detail, but trust in the network is built on exactly such details.

“Ethereum is the Internet moment for the global financial system,” Vivek Raman wrote on June 19, 2026. It is a short phrase, but it clearly conveys the main idea of the network’s supporters: an open protocol can become the foundation for finance just as the open web became the foundation for digital life.

Market reaction

While social media argued about the “internet moment,” the data showed that Ethereum had long since become more than just a theory. According to DefiLlama for Ethereum, as of June 20, 2026, ETH was trading at around $1,731.81, and the network’s market capitalization stood at $206.35 billion. On the same dashboard, the price was shown near $1,711, while TVL in DeFi reached $38.84 billion.

There is another important signal as well. In 2026, J.P. Morgan Asset Management launched a second tokenized money market fund on public Ethereum, and that is no longer a conversation about the future, but about real money on the network. DefiLlama also shows $156.80 billion in stablecoin market cap and $14.88 billion in active RWA market cap, meaning the market is using the network for more than speculation. And one more thing: when such volumes enter the network, it affects not only the ETH price, but also demand for exchange operations and cashing out into fiat, for example through selling Ethereum ETH on Monobank.

There is also a cold shower. According to Farside, the cumulative net flow into spot Ethereum ETFs in the US amounted to $11.2045 billion, but in June through the 18th inclusive, the net flow was down by about $199.2 million. On June 18, it was -$12.8 million. This is not a collapse, but it is not unconditional enthusiasm either. The market is behaving cautiously. And that means the loud words about the “internet moment” have not yet removed the usual nervousness from trading.

• Ethereum is being called a neutral base, not just another blockchain.

• On June 19, 2026, Vivek Raman directly compared the network to an “internet moment.”

• ETH was trading at around $1,731.81, and the network’s capitalization reached $206.35 billion.

• TVL in DeFi on Ethereum stood at $38.84 billion.

• ETF flows were mixed, with a June deficit of about $199.2 million through the 18th.

• For business, this is a signal that tokenization has already moved beyond experiments.

What does this mean for investors?

For those holding ETH, the main takeaway is not the nice metaphor, but the numbers. Ethereum controls 79% of active DeFi loans among the largest blockchains, 62% of the stablecoin market, 73% of tokenized funds, and 84% of tokenized commodity assets. This already looks less like a niche network and more like infrastructure that has absorbed real demand. And here, not only the price matters, but also how easily you can exit the coin into hryvnia if the market changes sharply.

There is also a technical layer. According to L2BEAT, Ethereum’s scaling ecosystem included 24 rollups, 7 validiums/optimiums, and 85 other solutions, while over 24 hours rollups processed 996.59 UOPS versus 22.13 UOPS on Ethereum L1. In other words, the load has long been distributed to the second layer, which reduces pressure on the main network. For investors, this matters because scaling often determines whether a network can sustain demand. If demand does not disappear, the question is no longer whether Ethereum is needed, but how to work with it without unnecessary losses.

And one more practical point for Ukrainian users: if ETH continues to establish itself as the base for stablecoins, tokenized funds, and RWA, then demand for fast exchange and fiat off-ramping will only grow.

Frequently asked questions

What do people mean by the “internet moment” for Ethereum?

It refers to a period when an open technology begins to displace closed corporate solutions. Ethereum supporters believe the network is now going through exactly such a stage, because DeFi, stablecoins, NFTs, and asset tokenization are already running on it.

Why do big companies not want to build on someone else’s blockchain?

Because no one wants to depend on a direct competitor. If the network belongs to another large company, the rules may change in a way that is unfavorable to the rest of the participants. Ethereum wins here precisely because of its neutrality.

Do the numbers confirm that Ethereum already has a strong position?

Yes. According to the data cited, the network has $38.84 billion in DeFi TVL, $156.80 billion in stablecoin market cap, and $14.88 billion in active RWA market cap. These are large sums that show the network is being used in practice, not just discussed.

So the story of Ethereum’s “internet moment” does not sound like a loud slogan, but rather like an attempt to explain why an open network holds 79% of DeFi loans and most tokenized assets. Those who want to take advantage of the market move can quickly sell Ethereum ETH on Monobank without unnecessary complications and in a convenient way for hryvnia.

This material is not financial advice. Cryptocurrency trading involves significant risks. Part of this text was prepared with the help of artificial intelligence based on public sources and reviewed by our editorial team.