Consensys founder Joseph Lubin predicts that significant adoption of Ethereum by Wall Street will eventually lead to a 100-fold surge in Ether’s value, potentially overtaking Bitcoin as a “monetary base.”
In a post on X this past Saturday, the Ethereum co-founder noted that Wall Street will begin staking Ether since they currently invest in their infrastructure, and Ethereum is set to “replace much of the many siloed stacks they operate.”
This change will create substantial demand for Ether, resulting in significant increases from current levels, according to his forecast.
“ETH will likely 100x from here. Probably much more.”
He also mentioned that financial institutions must evolve into TradFi companies that function on decentralized platforms, which involves staking, running validators, managing layer-2 networks, engaging in DeFi, and developing smart contract software for various agreements, processes, and financial instruments.
Last week, VanEck CEO Jan van Eck referred to Ether (ETH) as “the Wall Street token,” arguing that banks must adopt the network for stablecoin transfers to stay competitive.
Ether has a long road to flip Bitcoin
Lubin expressed that he is “100% aligned” with Fundstrat Global Advisors managing partner Tom Lee, who mentioned earlier in August that Wall Street would stake and utilize Ethereum, and that ETH could surpass Bitcoin in network value.
“Yes, Ethereum/ETH will flippen the Bitcoin/BTC monetary base,” he asserted.
Related: Ether breaks below ‘Tom Lee’ trendline: Is a 10% incoming?
Nevertheless, Ether currently represents only about a quarter of Bitcoin in market capitalization, indicating a substantial journey ahead. However, its crypto market dominance has doubled since April and is now at 14.3%, according to TradingView.
Ether is the “highest octane” decentralized trust commodity
Lubin, who also leads Sharplink Gaming, the second-largest Ethereum treasury company, remarked that Lee “is not nearly bullish enough.”
“Nobody on the planet can currently fathom how large and fast a rigorously decentralized economy, saturated with hybrid human-machine intelligence, operating on decentralized Ethereum Trustware, can grow,” he stated, adding:
“Trust is a new kind of virtual commodity. And ETH, the highest octane decentralized trust commodity, will eventually flippen all the other commodities on the planet.”
“Joseph Lubin’s prediction of Ethereum flipping Bitcoin’s monetary base resonates with institutional clients, who are increasingly allocating treasury assets to ETH due to its staking yield potential and role in tokenization ecosystems,” commented Nassar Achkar, chief strategy officer at the CoinW crypto exchange.
While Bitcoin remains the predominant store of value, “Ethereum’s programmability and Wall Street’s adoption of its staking and DeFi capabilities could accelerate the ‘flippening’ by transforming ETH into both a productive asset and the foundational layer for global financial infrastructure,” he added.
Stablecoins on Ethereum see exponential growth
In the meantime, the supply of stablecoins on Ethereum has exceeded $160 billion, achieving an all-time high and more than doubling since January 2024, reported Token Terminal on Saturday.
“Stablecoin demand seems exponential on Ethereum,” remarked Tom Lee the following day.
Ether rose over the weekend, nearing the $4,500 mark but couldn’t breach resistance there, dropping back below $4,400 during early trading on Monday.
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