A cryptocurrency analyst has shared a new report from Etherealize, a leading cryptocurrency research firm, that projects how high the price of Ethereum could reach if its market cap were to match that of gold. The expert believes that beyond price action, the Ethereum network could also evolve towards a global settlement layerfurther strengthening its position in the crypto space. Taken together, these developments paint a strong bullish outlook for the cryptocurrency, even amid the crisis. recent volatility and price decline which weighed on the market.
Digital Oil, a pseudonymous analyst and investor, makes a bold long-term argument: argue that the Ethereum network and its native asset, ETH, are positioned to take over two of the largest markets in the world. As the second largest cryptocurrency by market capitalization and the backbone of decentralized financethe analyst said that Ethereum offers an endless range of possibilities.
Ethereum Price Target to Gold Market Cap
He referred to an analysis report from Etherealize, which describe ETH like a store of productive value which outperforms gold, while Ethereum itself is considered the settlement layer for the future of global finance. This suggests that the blockchain network could be at the center of how money moves around 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 the role of ETH in the evolving digital economy.
Based on the analysis, Etherealize projects a long-term price target of $250,000 for ETH, representing an increase of over 11,400% from current levels. This figure could put the cryptocurrency’s market cap, which currently stands at $256.78 billion, on par with the market valuation of gold of 32,000 billion dollars.
Notably, Etherealize has listed 2045 as a rough timeline for this potential milestone. The research firm acknowledged that widespread adoption, necessary to catalyze this growth, could change that date depending on how quickly or slowly it happens.
Despite uncertainty over timing, Digital Oil remains steadfast in Etherealize’s stance bullish outlook for Ethereum. He said the projected change was 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 Surpass $3,000
Focusing more on Ethereum’s near-term price outlook, crypto analyst Ted Pillows has projected on cryptocurrency could rebound towards the $2,250 zone, with a possible extension above $3,000 if the bullish momentum persists. At the time of writing, ETH is trading above $2,100.
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After recording a series of price declines, the analyst suggested that ETH is now trying to reclaim $2,150 and break through old resistance levels. Pillows warns that if Ethereum faces another rejection before reaching this resistance zone, it could open the door to a strong correction around $2,000. Such a move would represent a drop of more than 5% from current levels.
Featured image from Pexels, chart from Tradingview.com
