Eric Jackson, founder of EMJ Capital, provided new forecasts for Ethereum, asserting that the token could reach $1.5 million in the future. This claim is based on an analysis of network dynamics and potential growth catalysts.
Approval of Ethereum ETFs
According to Jackson, the expected approval of ETFs for Ethereum in the US could be a significant catalyst for growth. He noted that current ETH prices do not reflect the anticipated approval of ETFs, with the launch of these financial instruments expected in October 2024. 'The real catalyst is still ahead: staking approval, expected before October,' he added.
Forecast for ETH Rising to $1.5 Million
Jackson also expressed that Ethereum's value could increase to $1.5 million if large companies using the network grow. He mentioned firms like Circle Internet Group, Coinbase, and Shopify that actively integrate Ethereum into their platforms. 'If this conversion to ETH commerce truly happens, then ETH goes to $1.5 million over time,' Jackson noted.
Growth Prospects for Ether in DeFi and L2
Jackson's base case scenario suggests that ETH could reach $10,000 by the end of the current investment cycle, typically viewed in four-year blocks. In an optimistic scenario, ETH could reach $15,000, depending on the successful adoption of Layer 2 blockchains and increased staking demand.
In light of the analysis and forecasts, Ethereum demonstrates significant growth potential, particularly with the introduction of new financial instruments. The anticipated approval of ETFs and activation of staking could make ETH a more attractive asset for both investors and major companies.
