- Ethereum (ETH) at $740,000: New report on digital oil and digital gold opportunities
- More cryptocurrencies as global macro assets?
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has all chances to join the club of global macro assets and hit an almost $100 trillion capitalization. A new report by Etherealize indicates that ETH demonstrates some functions of digital oil, digital gold and the ultimate collateral for states and institutions.
Ethereum (ETH) at $740,000: New report on digital oil and digital gold opportunities
Ethereum (ETH), the first programmable blockchain, might hit an enormous 14-digit capitalization in the coming years. With all Ethers in circulation valued at $90 trillion, a single ETH crypto will be trading over $740,000, a new report by Etherealize says.
Ethereum long-term valuation of $89T (~$740,000 per ETH) is possible at global scale.
To reflect ETH’s valuation potential as a global reserve asset, we must consider comparable global reserve assets as benchmarks. pic.twitter.com/R7m7fMhkTf
Such an insane upsurge will be driven by ETH accruing the functions of a global reserve macro asset. For instance, the report says, Ethereum (ETH) works not unlike digital oil, being the "fuel for computations" that can be stored and traded by reserve operators.
Just like Bitcoin (BTC), Ethereum (ETH) demonstrates all features of digital gold, but with sustainable yield rates and "productivity" while deposited to DeFi mechanisms.
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Also, Ether would be a digital replacement for the global bonds market as it can function as non-sovereign universal collateral that can be easily integrated into each and every financial system.
Last but not least, Ethereum's (ETH) volume surges step-by-step, increasing together with its activity and ecosystem growth.
More cryptocurrencies as global macro assets?
Finally, Ethereum (ETH) is the monetary backbone of global programmable finance, which is another extremely powerful catalyst to its macro price rally.
As such, Ethereum (ETH) has all features of a global macro asset, and, given the average capitalization of such assets at $100 trillion, can be valued over $740,000 per coin.
As covered by U.Today previously, Bitcoin (BTC) expert Willy Woo called the orange coin the first new macro asset in 150 years.
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He also admitted that Bitcoin (BTC) achieved this status faster compared to all its competitors. However, as per some experts, Ethereum's store of value (SoV) narrative is even more powerful compared to Bitcoin's (BTC).
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