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Analyst Predicts ETH to $10K with Staking ETF Approval
According to Eric Jackson, the founder of EMJ Capital, Ethereum’s (ETH) value could reach as high as $10,000 if spot Ethereum ETFs are approved and staking is enabled. This prediction comes amid growing anticipation about the potential impact of these developments on the cryptocurrency’s market performance.
Jackson argues that while many investors believe the effects of an ETH ETF have already been factored into the market, he believes that the true catalyst lies in the pending approval of staking within these products. This would enable institutional investors to participate in the Ethereum network by locking up their funds for a set period and earning interest on their investment.
In his analysis, Jackson highlights the potential influx of passive capital from traditional finance (tradfi) institutions into the market once they are allowed to engage with staking. He believes this could lead to an unprecedented increase in demand for ETH, resulting in a significant revaluation of the asset’s status and potentially pushing its value beyond $10,000.
While some have disputed Jackson’s prediction, citing concerns over Ethereum’s technical foundations, he remains steadfast in his vision. In fact, he envisions a future where ETH becomes the dominant transactional layer for crypto-commerce, which could propel its value to as much as $1.5 million per token.
Despite these ambitious projections, ETH currently trades at around $3,045, having experienced modest 2% growth over the past day and more substantial increases of 19.5% and 86.7% across the last week and three months, respectively.
Source: cryptopotato.com
