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    The Most Optimistic Scenario for Ethereum Price

    By adminJun. 21, 2024No Comments2 Mins Read
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    The Most Optimistic Scenario for Ethereum Price
    The Most Optimistic Scenario for Ethereum Price
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    VanEck’s digital asset research director, Matthew Siegel, recently discussed the possibility of Ethereum reaching the astronomical figure of $154,000 with Bankless. He stated that to achieve this optimistic scenario, Ethereum should encompass the majority of different sectors, including smart contracts, advertising, and IT infrastructure.

    Siegel emphasized that in order to reach such a high price, Ethereum would need to control 90% of the value transfer through smart contracts and have a significant stake in its advertising and IT fields via open-source blockchain.

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    These two cryptocurrencies may set new highs first

    Furthermore, Siegel also commented on the importance of global macroeconomic dynamics, especially the performance of emerging markets and the strength of the US dollar in determining Ethereum’s fate.

    “In this world, emerging markets may perform very well while the US dollar performs poorly. The US either 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 takes up a significant proportion of the total value.”

    VanEck expects Ethereum’s fundamental valuation to be around $22,000, which means there may be a 518% upside potential. If it reaches the highest optimistic scenario of $154,000 per token, its current market value should increase by 4,225%.

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