Ethereum Sets $10,000 Goal, Expected to Outperform Bitcoin, According to Fund Managers
Experts are taking notice of Ethereum because of its recent good performance. Prominent investment managers and industry heavyweights have expressed their optimism for Ethereum (ETH) in many articles on X, predicting that it would outperform Bitcoin (BTC) and aiming for a price of $10,000. Reasons for optimism include the decentralized finance (DeFi) ecosystem's expected legislative developments.
Why Ethereum May Be More Successful Than Bitcoin
In a post that has captured the attention of many in the crypto world, Raoul Pal, the founder and CEO of Global Macro Investor, expressed his thoughts on the possible revival of Ethereum in a post. I've been hoping that Ethereum would finally start making up ground on Bitcoin. Pal said that the election and the risk-taking cycle were the main drivers.
In his analysis, Pal singled out two main causes for ETH's expected outperformance. To start with, there's DeFi's improved utility: "Utility tokens in DeFi begin to offer yield or reward of underlying protocol which creates network value". The majority of this is on Ethereum, as Pal clarified.
Traditional Finance's (TradFi) acceptance is the second component. It's probable that TradeFi will start developing bigger use cases, but only on the most popular and proven chain. Ethereum (and the L2) may be compared to Microsoft in the web3 era. Pal insisted that utilizing it would not result in termination.
According to Pal, these changes would "dramatically re-rate ETH and offset the current retail adoption on other chains," and the extra benefit is that more institutional players will be drawn to ETH because of its dividends. Under better regulatory circumstances, he said, it is possible to build complex financial instruments like guaranteed funds. Pal came to the conclusion that "this activity will explode" with improved regulations.
In a comment on Pal's article, Dan Tapiero, founder and CEO of 10T Holdings, a growth equity fund that focuses on investments in the digital asset ecosystem, offered his support for Pal's prognosis, writing: "Yup." The post I made last night, but with more flowery language. That was hilarious.
In bringing up his prior claim that "Ethereum too cheap," Tapiero cited himself. I am about to burst into tears. In '22–'24, Gensler and company eliminated Defi in California. I am still alive. The United States of America Dies Out. Increase from $4,000 to $8,000 in the next year.
While Pal did see a hierarchical adoption landscape in the cryptocurrency market, he also hinted that ETH would underperform Solana (SOL) and Sui (SUI) even if it were to surpass BTC. From my vantage point, Ethereum starts to gain ground on Bitcoin for the remainder of the cycle, but it lags behind SOL and SUI, respectively, since SUI is in the last stage of adoption performance, which is early > proved. "We'll have to see," he said.
The wider crypto community was also interested in the discussion around Ethereum's potential. While Ethereum (ETH) is a good investment, according to Himura (@aceddeca1), one would be better off putting their money into Unichain (UNI) instead. If Coinbase were to introduce a base token, it would be Uniswap, which would move on its own chain. In a nutshell, Pal said, "Interesting thought."
On top of that, Federico Galavis, who goes by the handle @FedericoGalavis, cautioned users to exercise caution while dealing with SUI since just 0.82 percent of the supply has been made available. Does Raoul get payment to promote SUI? You should come clean if that's the case. Pal shot back, saying, "You need to do more research on all your comments," in response to the rumors about his bias.
One thing that could influence how people see Pal's thoughts on SUI is that he is a board member at the Sui Foundation.
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