Summary
- The founder of EMJ Capital predicted that Ethereum (ETH) could rise to $10,000 in this bull market.
- He noted that the potential approval of ETH ETF staking functionalities and the strengthening of ETH’s deflationary structure after the Merge would positively affect ETH’s value.
- It was mentioned that institutional demand has recently increased, and long-term optimism for ETH is once again emerging.
The founder of the Toronto, Canada-based hedge fund EMJ Capital predicted that Ethereum (ETH) could rise to $10,000 during the current bull market.
According to cryptocurrency-focused media outlet CoinDesk on the 15th (local time), he analyzed, "There is a possibility that ETH ETF staking functionalities will be approved by October this year," and added, "The market is still underestimating such favorable factors."
He continued, "After the Merge, ETH’s deflationary structure has been strengthened," and added, "The increase in Layer 2 ecosystem transaction fees, wider Real World Asset (RWA) tokenization, and other factors will have a positive impact on ETH’s value."
These remarks come as long-term optimism for ETH is resurfacing amid rising institutional demand, attracting attention within the industry.
Meanwhile, as of 01:03 on the 16th, ETH was trading at $3,041.29 on the Binance Tether (USDT) market, up 1.05% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
