What is the future of Ethereum? With the approval of Ethereum ETF, Ethereum season is all set to embark on a journey to great heights.
What is the latest news about Ethereum that has got the attention of everyone? Recently, VanEck has predicted the future of Ethereum and has set up a high mark for crypto. Let us read all about that in this crypto news piece.
VanEck Prediction On Ethereum
The latest news on Ethereum’s evolution is a prediction made by one of the top global investment managers, VanEck. The US-based investment management firm with offices all around the world offering access to investors to international markets has made a huge prediction about Ethereum. This is the hottest news right now and let us dive deeper into it.
VanEck predicted that Ethereum might reach a value of 22,000 US dollars by the year 2030. The asset management firm shared this and it has published a comprehensive analysis dated June 5.
The Digital Assets Research Team of VanEck is behind this prediction. The team was led by the top researcher Matthew Sigel. The predictions suggest that Ethereum has a robust growth potential and it is visible within portfolios in both traditional as well as cryptocurrency-focused ones.
What more did VanEck’s Research Team Predict?
The whole crypto community anticipates that the spot Ether ETFs are about to get the approval to trade on all the US stock exchanges. The approval to trade on these platforms would enable institutional investors as well as financial advisors to hold on to this digital asset.
The Ethereum network currently has a strong value proposition for entrepreneurs. And this is to go on for the coming days. Rapid market share growth is expected from market participants focused on traditional finance.
Ethereum is witnessing this growth and at the same time, it is maintaining an upper hand on smart contract platforms as well. Based on all these VanEck was able to forecast an inflow of 66 billion US dollars in free cash to the token holders.
This would support a 2.2 trillion US dollar asset. This is to lead to a value of 22k US dollars per coin. The firm predicts that all this may happen by 2030.
ETH’s Trailing Twelve-Months (TTM) Metrics
When we analyzed the trailing 12-month metrics of Ethereum, we were able to come across the following. The source of this data is Artemis XYZ and this was published on 28 May, 2024. Let us look into it
The Ethereum smart contract share is 58% with a revenue (in millions) of 3,461 US dollars. The validator cut is 5.00% with a value to token holders (in millions) of 3,228 US dollars.
The current FCF multiple is 137.84x. The ETH FDV (in millions ) is 453,282 US dollars with an ETH supply (millions) of 120.13 and an ETH price of 3,773 US dollars.
Ethereum Price and Market Cap
Now let us look into the latest price and market cap details of Ethereum.
Ethereum price is 3,841.37 US dollars at the time of writing this article.
The crypto has a market cap of 460.03 B US dollars. The 24 H volume is 24.14 B US dollars with a Vol. / M. Cap ratio of 0.0378. The circulating supply of the crypt is 120.14 M with a dominance of 17.37%
You have to also consider the fact that Ethereum has a volatility of 11.30% which is marked as ‘Very High’.
Also, Read: Ethereum Market Cap And Price Predictions: 2025 To 2030
VanEck X Post
In an X post published from their official X handle, VanEck has announced their new target for Ethereum. The post read that the firm has raised its 2030 ETH price target to 22 thousand US dollars.
It continued that the new target was influenced by the ether ETF news, scaling progress, and the firm’s read of on-chain data.
The Bottom Line
For Ethereum to hit 22,000 US dollars worth by 2030, there needs to be a 468% increase from its current value.
Do you think it’s possible? We can not rule out the possibility of this happening. In fact, there is a high chance of the Ethereum price skyrocketing by 2030.
However, could Ethereum reach the target set by VanEck? Let us wait to see whether it will happen.
