Global investment manager VanEck says Ethereum (ETH) could hit $51,000 in less than seven years if certain conditions align.
In a new research report, VanEck lays out its base, bear and bull cases for Ethereum’s performance going into the end of the decade.
[adinserter block="1"]VanEck explains its methodology in finding its estimates:
“We base these estimates on the thesis that Ethereum becomes the dominant open-source global settlement network that hosts substantial portions of the commercial activity of business sectors with the highest potential to gain from moving their business functions to public blockchains. In a portfolio of similar smart contract platforms, we assume to own a collection of call options, with the dominant platform likely to take a majority market share.”
Assuming that Ethereum is no longer the top settlement system or smart contract platform with only 15% dominance, VanEck says ETH could disintegrate as low as $343.29 by 2030 in its bear case.
However, if things go well for Ethereum, VanEck lays out a base case price target of $11,848.62 and a bull case of $51,006.
The firm says that Ethereum is likely en route to becoming a store-of-value asset, similar to Bitcoin but perhaps in a slightly different manner.
“Finally, we assert that ETH is evolving beyond a transactional currency or a consumable commodity like oil or natural gas. We believe that ETH, while not a complete store of value like Bitcoin due to Ethereum’s demonstrated mutability of code and an evolving social consensus focused on utility, will nevertheless become a store-of-value asset for state actors looking to maximize human capital (vs. Bitcoin, which maximizes for stranded energy).”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
