In a bold prediction, Matthew Sigel, head of digital asset research at VanEck, says The price of Ethereum (ETH) could reach $22,000 by 2030. Sigel’s projections coincide with a recent market rally, which saw the price of Ethereum return to the $3,500 territory.
In a bold prediction, Matthew Sigel, head of digital asset research at VanEck, says The price of Ethereum (ETH) could reach $22,000 by 2030. Sigel’s projections coincide with a recent market rally, which saw the price of Ethereum return to the $3,500 territory.
Matthew Sigel adds a twist to Ethereum forecast
Sigel’s bullish prediction was published in VanEck’s groundbreaking ETH 2030 report. According to the details, VanEck established a bullish case of $154,000, a base case of $22,000, and a bearish case of $340 for Ethereum.
Arman ShirinyanWhile discussing the report in a Bankless interview, Sigel highlighted that Ethereum must reach a 70% market share of all Layer 1 blockchains to reach the base case of $22,000. For context, he noted that Ethereum’s market share is currently at 58%, as of the last year. This is the market share of fees paid by users. Consequently, he emphasized the need to improve Ethereum’s scaling roadmap for people to use its layer 2 solutions.
Sigel said the company is becoming more bullish on Ethereum and the broader crypto ecosystem. He said this in response to questions about why VanEck revised Ethereum’s base case forecast of $11,000 a year earlier. He also said the change was based on expectations of acceleration of the current bull market after the US presidential election in November.
VanEck’s Crypto Stake
Sigel added that Ethereum is a productive asset that allows anyone to open a store on its network, with lower fees. He said VanEck has increased its overall penetration rate of open source databases. In total, the company expects these databases to capture 7% of current financial application volume.
Arman ShirinyanSigel explained that the report was imperative due to the recent approval of spot exchange-traded funds (ETFs) by the US SEC. Sigel added that, in general, there is a larger market for the assets that generate income than for innate assets like Bitcoin (BTC). Therefore, he stated that the Ethereum market could become larger than Bitcoin’s within a decade.
