Everyone said Ethereum price was locked in on $10,000 this bull run, but now top analysts from a leading mining firm say not until 2030.<\/p>\n
Ethereum is now seen as a turnaround story, a setup some analysts think could work to its benefit.<\/span><\/p>\n Ethereum is currently undergoing a different phase: a slow recovery following a prolonged period of weak sentiment. Matt Hougan, chief investment officer at Bitwise, says this rebuilding period might give investors a useful entry point.<\/span><\/p>\n To understand this view, it helps to examine what has dragged the network down and what may be improving.<\/span><\/p>\n A crypto analyst suggests that Ethereum may be due for a sharp re-rating over the next year.\u00a0<\/span><\/p>\n He expects the asset to \u201ccatch up with the M2 money supply\u201d by the fourth quarter, which he believes supports a fair value between $8,000 and $10,000 by early 2026.<\/span><\/p>\n $ETH<\/a> will catch up with the M2 supply in Q4.<\/p>\n The fair value of Ethereum is $8,000-$10,000 by Q1 2026.<\/p>\n With institutional bidding and staking approval, I think ETH will rally hard. pic.twitter.com\/GWhdqetubr<\/a><\/p>\n \u2014 Ted (@TedPillows) October 13, 2025<\/a><\/p>\n\n He also points to growing interest from large investors. In his view, consistent buying and the chance of new staking approvals could help push prices higher.\u00a0<\/span><\/p>\n The message is simple: if demand builds and policy remains supportive, ETH may have room to run.<\/span><\/p>\n Earlier this year, even long-time supporters worried the ecosystem had lost energy as a series of setbacks piled up.<\/span><\/p>\n On-chain activity slowed, and critics argued that the push to scale through layer-2 networks had backfired.\u00a0<\/span><\/p>\n There once was a cow named “$ETH” who was being milked dry by its ‘caretakers’. When bystanders said “hey that’s not good for $ETH<\/a>“, the ‘caretakers’ got really upset at the bystanders, completely ignoring the irony that they were the ones killing the cow for personal enrichment. pic.twitter.com\/WBMtspGqqh<\/a><\/p>\n \u2014 Quinn Thompson (@qthomp) March 30, 2025<\/a><\/p>\n\n They said the approach weakened token economics and shifted value away from the main chain. Some even claimed Ethereum was now overpriced and no longer appealing to investors.<\/span><\/p>\n Hougan, however, notes that Ethereum still holds a core advantage that many overlook: its central position within the stablecoin ecosystem.<\/span><\/p>\n \u201cAll payments will be on stablecoins,\u201d he said. Currently, most stablecoins operate on Ethereum.<\/span><\/p>\n USDT and USDC, which together account for more than two-thirds of the global stablecoin supply, are issued mainly on Ethereum.\u00a0<\/span><\/p>\n Data from <\/span>DefiLlama<\/span><\/a> indicates that over 53% of the sector\u2019s $307Bn market operates on Ethereum. Solana, by comparison, holds just over 4%.<\/span><\/p>\n\n (<\/span>Source: DefiLlama<\/span><\/a>)<\/span><\/p>\n As banks and payment firms adopt stablecoins for settlements, payments, and treasury work, Ethereum could remain the main network supporting that activity.<\/span><\/p>\n Large institutions are already moving in. JPMorgan, for example, has started accepting crypto as collateral.<\/span><\/p>\n JPMorgan to allow its institutional clients to use bitcoin and ether as collateral for loans as crypto continues to get absorbed into Wall Street’s plumbing. Nice scoop from @emilyjnicolle<\/a> and yet another example of Life Moves Pretty Fast pic.twitter.com\/ej68sOHm9J<\/a><\/p>\n \u2014 Eric Balchunas (@EricBalchunas) October 24, 2025<\/a><\/p>\n\n Ripple <\/span>plans<\/span><\/a> to put $1Bn into expanding stablecoin use in corporate treasuries. At the same time, BlackRock\u2019s tokenized treasury <\/span>fund<\/span><\/a> has reached about $2.5Bn.\u00a0<\/span><\/p>\n Both moves direct more activity toward Ethereum, which earns fees when stablecoins are transferred across the network.<\/span><\/p>\n Tom Lee, a well-known strategist who helps run one of the biggest Ethereum-focused treasury firms, called stablecoins the \u201cChatGPT of crypto\u201d in a June 30 <\/span>interview<\/span><\/a> on CNBC, citing their fast adoption.<\/span><\/p>\nIs Ethereum Still Overpriced or Are Critics Missing the Bigger Picture?<\/h2>\n