EMJ Capital’s Eric Jackson projects that Ethereum (ETH) could reach a base price target of $10,000 by the end of the current market cycle, driven significantly by the anticipated approval of Ethereum staking Exchange-Traded Funds (ETFs).
The expected approval of these ETFs before October is viewed as a potential catalyst that could transform Ethereum into an institutional-grade asset. This would substantially increase institutional demand while simultaneously reducing the circulating supply of ETH locked in staking.
Ethereum’s deflationary tokenomics, enhanced by its token-burning mechanism, and the rapid growth of Layer 2 scaling solutions are cited as key factors enhancing Ethereum’s scarcity and utility. These elements form the foundation for the long-term bullish projection of Ethereum potentially reaching $1.5 million.
Analysts emphasize Ethereum’s role as the core infrastructure for decentralized finance (DeFi). Further integration into major platforms is seen as key to boosting its real-world utility and underlying value proposition.
Supporting the optimistic outlook, crypto analyst Merlijn The Trader observes that Ethereum’s current price pattern resembles its 2016 trajectory, albeit with significantly stronger support from potential ETF inflows and institutional adoption.
Data indicates strong accumulation, with over $100 billion worth of ETH currently locked in contracts. Ethereum also demonstrates notable resilience in the current market, showing a 17.7% gain over the past week and a 2.73% increase in the last 24 hours, trading near the $3,034 mark.