Matthew Sigel, the head of digital assets research at VanEck, has provided insight into the potential price of Ethereum (ETH), suggesting that it could reach $154,000, as outlined in a previous report by the asset manager.
During an interview with Bankless, Sigel explained that Ethereum’s market share would play a significant role in driving its price to six figures. He stated, “In that case, ETH would be capturing 90% of all smart contract value intermediation… so the penetration rates get pretty chunky, so Ethereum essentially accounts for 15% of the total financial markets. And then 50% of the advertising market hosted on open-source blockchains. And between 20% to 25% of information technology (IT) infrastructure and artificial intelligence (AI) going through open-source blockchain.”
Sigel also emphasized that Ethereum’s prospects of reaching a six-figure price would be influenced by the state of the global macro economy. He suggested that in such a scenario, emerging markets would perform well, while the US dollar would fare poorly. Additionally, the US regulatory state would need to either fully embrace open-source digital assets (although he deemed this unlikely) or relinquish control to other countries. In this bullish case, Ethereum would capture a significant portion of the value.
In VanEck’s report released earlier this month, the base case target for Ethereum was set at $22,000, representing a potential gain of 518% from the current level. However, to achieve the bull case target of $154,000, Ethereum would need to appreciate by a staggering 4,225% from its current price.
Currently, Ethereum is trading at $3,560.
Please note that the opinions expressed in this article are not investment advice and that investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are conducted at the individual’s own risk, and any losses incurred are the responsibility of the investor. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and is not an investment advisor.
