Ethereum, the second-largest cryptocurrency, is currently trading at just under $3,040 and according to these analysts, poised for exponential growth. The crypto has successfully processed multiple upgrades in recent years, notably the Ethereum Merge and EIP-1559. Together, these upgrades have transitioned Ethereum from a proof-of-work system to an environmentally-friendly proof-of-stake system. To counteract this, they introduced token burns, which actively decrease supply.

Ethereum continues its expansion In this quickly evolving crypto space, Ethereum is gaining more ground by the day. It is the angel investor behind billions of connected commerce transactions, enabling business on the ground. Its current price hovering around $3,100 and weekly increases at 6–7%, analysts are calling for a short-term target of $3,500 level.

Longer-term forecasts are even more optimistic. Others believe that Ethereum has the potential to reach $10,000–$15,000 by 2026. EMJ Capital's Eric Jackson suggests Ethereum could potentially reach $1.5 million per token over time, driven by the introduction of new ETFs. This surge represents a potential 100x increase. Jackson has proposed a starting case of $10,000. He thinks it can go up to a bull case of $15,000 with strong Layer 2 adoption and staking ETFs approved successfully.

The allure of Ethereum potential might soon jump through the roof with the first Ethereum staking ETFs approval. This change would make Ethereum the first, high-yield, institutional-grade digital asset.

Once ETH becomes a productive, staked asset within an ETF wrapper… It’s no longer just ‘digital oil.’ It’s an institutional-grade yield product. - Jackson

According to recent data, major holders have increased their Ethereum holdings by over 18%. At the same time, exchange reserves have crashed almost 2% suggesting a strong accumulation trend.