Here’s How Ethereum Could Skyrocket to 4.225%, According to VanEck’s Matthew Sigel

Head of Digital Asset Research at VanEck, Matthew Sigel, explains how Ethereum (ETH) could reach a price of $154,000, which the asset manager set as a target for upside in a report published a few weeks ago.

In a new interview on Bankless, Sigel said that Ethereum could reach a six-figure price by increasing its market share.

“In this case, ETH would capture 90% of all smart contract value intermediation… so the penetration rates become quite significant, so Ethereum is essentially 15% of the total financial markets. And then 50% of the advertising market hosted on open source blockchains. And between 20 and 25% of information technology (IT) and artificial intelligence (AI) infrastructure runs on open source blockchain.

According to VanEck’s head of digital assets research, the state of the global macroeconomy would also influence Ethereum’s prospects of reaching a six-figure price.

“So I would say in this world, emerging markets are probably doing very well and the US dollar is doing extremely poorly. And the US regulatory state has either fully adopted open source digital assets, which is unlikely in my opinion, or has completely implemented them in other countries. And then, in this bullish case, Ethereum captures a pretty large percentage of the value.

In the report Published earlier this month, VanEck set a base target for Ethereum of $22,000, a potential gain of 518% from the current level. To achieve the bull case target, Ethereum would need to appreciate by 4,225% from the current price.

Ethereum is trading at $3,560 at the time of writing.

Don’t miss a beat – Subscribe to receive email alerts directly to your inbox

Check Price Action

follow us on X, Facebook And Telegram

Surf The Hodl Daily Blend

& nbsp

Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Image generated: DALLE3

Source