A crypto analyst has shared a new report from Etherealize, a leading crypto research firm, that predicts how high Ethereum’s price could reach if its market capitalization were to match that of gold. The expert believes that, in addition to price action, the Ethereum network could also evolve into a global settlement layerfurther solidifying its position in the crypto space. Taken together, these developments paint a strong bullish outlook for the cryptocurrency, even in the midst of the crisis recent volatility and price declines that have weighed on the market.
Digital Oil, a pseudonymous analyst and investor, makes a bold case for the long term: argue that the Ethereum network and its parent asset, ETH, are positioned to conquer two of the largest markets in the world. As the second largest cryptocurrency by market capitalization and the backbone of decentralized financethe analyst said Ethereum offers an infinite range of possibilities.
The Ethereum price target at gold market cap
He referred to an analysis report from Etherealize describes ETH as a productive store of value surpassing gold, while Ethereum itself is seen as the settlement layer for the future of global finance. This suggests that the blockchain network could be central to the way money flows in the world in the future.
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The report, titled The Bull Case for Ethereum: Digital Oil, Store of Value, and Global Reserve Asset for the Digital Economy, was produced by Etherealize to help institutional investors better understand ETH’s role in the evolving digital economy.
Based on the analysis, Etherealize expects a long-term price target of $250,000 for ETH, which represents an upside of over 11,400% from current levels. That figure could put the cryptocurrency’s market cap on par, which currently stands at $256.78 billion market valuation of gold of $32 trillion.
Etherealize specifically pointed to 2045 as a rough timeline for this potential milestone. The research firm acknowledged that widespread adoption, which is needed to catalyze this growth, could change that date depending on how quickly or slowly it occurs.
Despite uncertainty over timing, Digital Oil remains steadfast in Etherealize’s bullish outlook for Ethereum. He said the expected shift is inevitable and could come soon. As a result, the analyst urged investors and traders to prepare in advance by positioning themselves for the long-term growth of ETH and the Ethereum network.
Analyst Says ETH Could Rise Above $3,000
Crypto analyst Ted Pillows is focusing more on Ethereum’s short-term price prospects projected on X that the cryptocurrency could rise towards the $2,250 zone, with a possible extension above $3,000 if the bullish momentum continues. At the time of writing, ETH is trading above $2,100.
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After registering a series of price declines, the analyst suggested that ETH is now trying to regain $2,150 and break previous resistance levels. Pillows warns that if Ethereum is rejected again before it reaches that resistance area, this is possible open the door for a steep correction towards $2,000. Such a move would represent a decline of more than 5% from current levels.
Featured image from Pexels, chart from Tradingview.com