VanEck’s Director of Digital Asset Strategy, Matthew Siegel, recently discussed the possibility of Ethereum reaching an astronomical price of $154,000 with Bankless. He stated that in order to achieve this optimistic scenario, Ethereum should encompass a significant portion of different sectors including smart contracts, advertising, and IT infrastructure.
Siegel emphasized that for such a high price to be realized, Ethereum would need to control 90% of value transfer through smart contracts and have a substantial stake in its advertising and IT domains through open-source blockchain.
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Additionally, Siegel commented on the importance of global macroeconomic dynamics, particularly the performance of emerging markets and the strength of the US dollar, in determining Ethereum’s fate.
“In this world, emerging markets could perform extremely well while the US dollar performs poorly. Either the US fully embraces open-source digital assets (which I think is unlikely) or they push it entirely to other countries. Then, in this bullish scenario, Ethereum occupies a considerable proportion of the total value.”
VanEck estimates Ethereum’s fundamental valuation to be around $22,000, which implies a potential upside of 518%. If it reaches the highest optimistic scenario of $154,000 per token, its current market capitalization should increase by 4,225%.
