VanEck has revised its long-term Ethereum price forecast, significantly lowering expectations, capturing the attention of investors and analysts.
VanEck Reduces Ethereum Forecast
VanEck announced a reduction in its 2030 price target for Ethereum from $22,000 to $7,300, representing a 67% decrease. This adjustment stems from recent market trends and a reassessment of certain factors. In the company's earlier forecast, Ethereum's price was estimated at $154,000 for a base case and $360,000 for a bear case.
Role of Layer 2 Networks
A key reason for the forecast revision is the changing revenue share from Layer 2 projects. Initially, Ethereum's TVL and MEV share was projected at 90%, but current data shows it has dropped to 10%, while L2 solutions occupy 90%. This trend could lead to further depreciation of Ethereum's value.
Future of Bitcoin
Despite lowering the Ethereum forecast, VanEck remains bullish on Bitcoin. Future U.S. presidential elections could positively affect Bitcoin prices, especially if Donald Trump wins. By 2030, Bitcoin is forecasted to reach $350,000, potentially capturing a significant share of the gold market.
VanEck's forecast adjustments underline the importance of analyzing market trends and secondary network strategies in the cryptocurrency market development.
