- ETH Co-Founder Joe Lubin predicts that ETH will 100x from here.
- If this is true, then each ETH token will be worth $400,000.
- The price of ETH is currently trading at the $4,000 price range.
The pioneer altcoin asset, Ethereum (ETH), continues to gain significant recognition and is growing rapidly in terms of global adoption and interest. Amid this rapid growth in ETH accumulation, ETH Co-Founder Joe Lubin predicts that ETH will increase 100 times from here, placing the value of ETH at $400,000, a significant leap compared to its current price range of $4,000.
ETH Co-Founder Joe Lubin Predicts That ETH Will 100x From Here
This bull cycle has seen a vast increase in terms of accumulation interest for the pioneer altcoin asset, Ethereum (ETH). During the last bull cycle, it was mainly only the pioneer crypto asset, Bitcoin (BTC), that was being accumulated and held by financial institutions. institutions, treasuries, and governments, such as El Salvador and Michael Saylor’s Strategy, then known as MicroStrategy.
This cycle, however, there has been an undeniable increase in Ethereum (ETH) accumulation for various financial entities. This is likely because of two reasons, the first being that the price of BTC has already pumped by a lot, while the price of ETH has only just set its first ATH this bull cycle last month, and has yet to truly start exploring its price discovery phase.
This means that the price of ETH could pump a lot more over the next few weeks and months compared to BTC, which has already pulled a large surge this cycle. The second reason is likely due to the success of BTC and ETH Spot ETFs. This cycle, the successful launch of ETFs has driven institutions to heavily accumulate both assets to meet growing demand, and leading to diminishing supply on exchanges.
This Could Shoot the Price of ETH to $400,000
These moves together lead analysts to believe that the prices of both BTC and ETH could explode parabolically, but that the price of ETH will pump more. Bitmine Immersion is rapidly accumulating ETH under Tom Lee’s leadership, hoping to secure 5% of the total ETH supply. Lee expects the price of ETH to hit $15,000 by the end of the year and $60,000 by the end of the ongoing bull cycle.
As we can see from the post above, Joe Lubin, a Co-Founder of Ethereum has made an extremely bullish statement. To highlight, he says that ETH price will 100x from here. This would mean that each ETH token could be worth $400,000 one day, a 100x increase from its current price, which is trading in the $4,000 price range according to CoinMarketCap analytics. With these bullish expectations growing strong, the price of ETH prepares to hit new ATH targets soon.
