Eric Jackson, founder of EMJ Capital, predicts that Ethereum (ETH) could ultimately reach $1.5 million per token.
Jackson believes that the approval of the Ethereum stakering Exchange-Traded Funds (ETF) and the growth of crypto-based commercial transactions could lead to a surge in Altcoin prices.
What can drive ETH to $1.5 million?
Jackson claimed that Ethereum is “low priced.” In his latest analysis, shared via X (formerly Twitter). According to his and EMJ Capital models, by the end of this cycle the price could reach $10,000 in the base case. Furthermore, bullish cases suggest that it could reach as much as $15,000.
“And none of this assumes a massive new breakout of defi or nfts. It assumes a massive breakout of stupid explosions like CRCL, a explosion in the L2 of Hood, and a base of coins to keep money in the crypto world and a base of coins for relocation to Fiat,” he said.
But what is the cause of this massive appreciation? Now, in the current cycle, Jackson pointed out the approval of Ethereum stakering ETFs as the main catalyst for ETH growth.
“Most people think that ETH ETF approval is already priced, and that’s a big bust vs. BTC (from the perspective of Etha vs. IBit assets), because it’s not yet going any further.
Jackson explained that the development will attract passive institutional flows and increase staking demand as the system moves to exploit the yields of its position. Staking processes and ETF demand reduce the circulating supply of ETH, increasing rarity and price.
He focused on all this It is also contributing to “Already Defret Comnemics of Ethereum.” Furthermore, the growth of Layer 2 solutions and real-world asset tokenization will further increase the value of ETH by increasing transaction fees.
“When ETH becomes productive, it becomes a dyed asset within the ETF wrapper. It is no longer a ‘digital oil’. This is a facility grade yield product,” Jackson said.
Executives also believe ETH could reach $1.5 million in the long term. His predictions are rooted in his belief that Ethereum’s fundamental role in a new decentralized crypto-based financial ecosystem will drive significant price increases over time.
“If CRCL, coin (base), shops, food and some of the commerce remain in the crypto and move away from Fiat, if you believe in Fiat, credit cards, traditional banks, then if you don’t then ETH conversion really won’t happen (and I believe it).
Meanwhile, other analysts reflect Jackson’s optimism. Merlijn The Trader emphasized that Ethereum follows a similar pattern to its price action in 2016. However, this time, ETFs, institutional investments and global adoption will provide a higher growth potential.
“Ethereum staking hits its highest ever high. ETHs are betting at over 35.7 million. It’s locked over $100 billion. It’s gone from distribution. No one is talking about it.
It is still unknown whether these predictions will be realized. For now, Ethereum continues to extend its weekly profit of 17.7%.
Beincrypto data showed that the second largest cryptocurrency rose 2.73% in the past day. At the time of writing, the ETH traded price was $3,034.
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