Matt Hougan, chief investment officer (CIO) of Bitwise, one of the world’s largest cryptocurrency investment companies, said that Ethereum is experiencing a long-term “recovery story,” and that at the end of this process, the price could rise above $10,000 by 2030.
Hougan argued that ETH has experienced short-term challenges but retains its long-term structural advantages:
“Ethereum is poised to reach $5,000 by the end of this year and at least double by the end of the decade.”
Overshadowed by the strong performance of rivals like Solana in recent months, Ethereum has struggled with low transaction volumes and weak market sentiment, particularly throughout 2024. As the growth of Layer-2 networks reduces economic activity on the main chain, some analysts have claimed that Ethereum has become “overvalued and uninvestable.”
According to Hougan, ETH’s biggest advantage is that it sits at the heart of the stablecoin ecosystem.
“All payments will be made with stablecoins,” Hougan said, “and the vast majority of these stablecoins run on Ethereum.”
According to DefiLlama data, 53% of the $307 billion in circulating stablecoin supply resides on the Ethereum network. The two largest stablecoins in the market, USDT and USDC, are primarily issued on the network. In comparison, Solana’s share is only around 4%.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/company-managing-5-billion-reveals-new-price-forecast-for-ethereum/
