ETH to $10K? Don’t Laugh Yet! 🙄

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They say the wind’s changed, eh? These youngsters, chasing after these… Solanas. Like moths to a flickering lamp, bypassing the solid hearth. Bitwise’s Hougan – a fellow who actually thinks, it seems – believes they’re all fools rushing in where angels fear to tread. He says Ethereum, that old workhorse, is just… gathering itself. Preparing for a resurgence. A price of $10,000 by the end of the decade. Bah! Sounds like a fairy tale for the impatient, doesn’t it? But let’s listen, shall we?

The Long Road Back (Or is it?)

Ethereum. Two years of sighs and complaints from investors who prefer instant gratification. While Solana and its kin hog the headlines with their speed – flashy, like a cheap circus trick – Ethereum’s own fields have appeared fallow. NFTs collecting dust, DeFi volumes… wheezing. They call it the ‘old guard’ now, overvalued. Hmph. Like a well-worn boot is ‘overvalued’ compared to a pair of flimsy slippers. They’ll learn.

But Hougan, he sees things differently. He declares this isn’t collapse, but consolidation. A rebuilding. These ‘Layer-2s’ – fancy names for clever workarounds – are offloading traffic, yes. But they’re also… preparing the foundations. “The calm before the storm,” he calls it. A storm of money, no doubt. 💰

A Network That Prints Dollars (and avoids honest work)

Hougan’s point is brutally simple. Ethereum isn’t building castles in the air; it’s handling the money. The actual, digital money. While these fleeting memecoins and AI fancies come and disappear like smoke, Ethereum holds the plumbing for the stablecoins. You know, those things pretending to be dollars. 🙄

Over half – 53%, to be precise, and a dizzying $307 billion – of all stablecoins live on Ethereum. That’s… significant. It means when people want to actually move money, they come here. Solana can rattle off transactions at a furious pace, but it’s mostly moving… what, exactly? Air? Ethereum moves the coin of the realm.

Why the Market is Blind (as usual)

The problem, according to Hougan, is that people are looking at the wrong place! This activity migrating to Layer-2s makes the main Ethereum chain look… quiet. Empty. Like a deserted marketplace. But the real trade is happening elsewhere within the system. It’s a cunning illusion, easily fooled by the unobservant.

Some analysts, the short-sighted ones, have even declared Ethereum ‘uninvestable’. Pathetic. For a steady hand like Hougan, these Layer-2s aren’t a threat, but confirmations of Ethereum’s sovereignty. They all rely on the main chain for security. They all ultimately feed it. It’s like a parasite thanking the host! 😂

A Decade of…Compounding (hopefully)

Hougan is wagering on exponential growth. Doubling in value by the decade’s end, hitting $5,000 by ’25 and “well north of $10,000” by ’30. Not based on hype, mind you, but on infrastructure. The simple fact that as the world starts using tokenized assets – and stablecoins, naturally – Ethereum will be there, in the background, running the whole show.

If that happens, the next boom might not be a frenzy of speculation, but a slow, steady climb fueled by… well, by usefulness. Ethereum quietly running the world’s finances. A bit boring, perhaps, but certainly reliable.

Beyond the Numbers (Because numbers lie)

Hougan isn’t predicting a fever dream; he’s observing an ecosystem taking root. From all these stablecoin shuffles to the big institutions cautiously poking at tokenization, Ethereum’s reach is expanding. It’s become the bedrock of this digital finance thing.

So, if he’s right, the next time ETH hits $10,000, it won’t be just another bubble bursting with air. It’ll be the moment we realize Ethereum isn’t just a cryptocurrency…it’s the engine beneath the machine. A grimy, dependable engine, admittedly, but an engine nonetheless. And a cynical old man like myself might even… smile. 🤨

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2025-11-02 18:10