Eric Jackson, founder of Emj Capital, predicted that Ethereum (ETH) could possibly reach $ 1.5 million per token.
Jackson believes that the approval of the Stock Exchange (ETF) funds in Ethereum and the Crypto -based trade -based growth could stimulate the overvoltage of Altcoin prices.
What could propel the ETH to 1.5 million dollars?
In his latest analysis, shared via X (formerly Twitter), Jackson argued that Ethereum is “undervalued”. According to him and the EMJ Capital model, the price could reach $ 10,000 by the end of this cycle in a basic case. In addition, the optimistic case suggests that it could reach $ 15,000.
“And none of this assumes a new massive escape in Defi or NFTS or explosion in the stabbed like CRCL on ETH or explosion in the L2 base and Hood corner to keep money in the cryptographic world against migration in both directions towards Fiat,” he said.
But what will cause this massive appreciation? Well, in the current cycle, Jackson underlined the approval of ETF Ethereum as a major catalyst for ETH growth.
“Most people think that the approval of the ETH ETF is already at the price, and it was a big bust against BTC (in terms of assets for Etha against Ibit). This is not the case. Because the real catalyst is still in advance: the implementation of approval, expected before October.
Jackson explained that this development would attract passive institutional flows and will increase the demand for intention as institutions move to capitalize on the yield yield. The ignition process and demand from ETFs will reduce ETH’s circulating supply, increasing rarity and prices.
He noted that all that contributes more to the “already deflationary tokenomic of Ethereum”. In addition, the growth of layer 2 solutions and the tokenization of real assets will further improve the value of the ETH by increasing the transaction costs.
“Once the ETH becomes a productive asset and dotted in a Wrapper ETF … It’s no longer just” digital oil “. It is an institutional quality yield, ”said Jackson.
The executive also estimates that ETH can reach $ 1.5 million in the long term. His prediction is rooted in his conviction that the fundamental role of Ethereum in a decentralized financial ecosystem and based on cryptography will result in a significant assessment of prices over time.
“I would say that if you believe in CRCL, to the room (base), the shop, the hood and a part of the trade remains in the crypto and moves away from Fiat, then you believe in ETH. If you believe in Fiat, credit cards, traditional banks, then you don’t. If this conversion to Eth Commerce really occurs (and I think that will be the case), then ETH increases to 1.5 million dollars, “he added.
Meanwhile, other analysts echo the optimism of Jackson. Merlijn The merchant stressed that Ethereum is following a model similar to its 2016 price behavior. However, this time, with ETF, institutional investments and global adoption, the growth potential is higher.
“Ethereum Staking has managed to reach peaks of all time. More than 35.7 million ETH now milestone.
It remains to be seen that these predictions are realized or not. For the moment, Ethereum continues to extend its weekly gains by 17.7%.
Beincrypto data showed that the second largest cryptocurrency experienced a 2.73% increase in the last day. At the time of writing the editorial staff, the ETH negotiation price was $ 3,034.
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