Bold Prediction: Ethereum May Reach $22,000 by 2030, Says Matthew Sigel
In a bold prediction, Matthew Sigel, Head of Digital Assets Research at VanEck, forecasts that the price of Ethereum (ETH) could soar to $22,000 by 2030. This forecast aligns with the recent market rebound, which saw Ethereum’s price return to the $3,500 range.
Sigel’s bullish prediction was detailed in VanEck’s flagship report, ETH 2030. The report outlines three potential scenarios for Ethereum’s price: a bullish scenario at $154,000, a base case at $22,000, and a bearish case at $340. During an interview with Bankless, Sigel explained that for Ethereum to reach the base case of $22,000, it must capture a 70% market share among all Layer 1 blockchains. He noted that Ethereum’s current market share, based on user fees, stood at 58% last year. Sigel emphasized the importance of improving Ethereum’s scaling roadmap to encourage the adoption of Layer 2 solutions.
Sigel stated that VanEck has become increasingly optimistic about Ethereum and the broader cryptocurrency ecosystem. This shift in sentiment is reflected in VanEck’s revised base case prediction for Ethereum, up from $11,000 the previous year. The revision is attributed to expectations of an accelerated bull market following the US presidential elections in November.
VanEck’s Involvement in Cryptocurrencies
Sigel highlighted Ethereum’s productive nature, allowing anyone to open a storefront on its network with lower fees. He mentioned that VanEck has increased its overall penetration rate of open-source databases. The firm expects to capture 7% of the current mainline financial application databases with these open-source solutions.
Read more Over 700,000 ETH Acquired in Three Weeks: Will Ethereum Regain Momentum?
Additionally, Sigel pointed to the significant potential for income-generating assets compared to inherent assets like Bitcoin (BTC). He suggested that Ethereum’s market could surpass Bitcoin’s within a decade. This insight follows the recent approval of VanEck’s Exchange-Traded Funds (ETFs) by the U.S. Securities and Exchange Commission, further solidifying the importance of the report.
Important Notice: The content presented in this article is intended for informational purposes only and should not be interpreted as financial advice. Coinshibainu.com bears no responsibility for any investment decisions made relying on the information contained herein. It is highly recommended to consult with a qualified expert or financial advisor before making any investment decisions.
