Matthew Sigel, the head of digital assets research at VanEck, has shared his insights on how Ethereum (ETH) could potentially reach a staggering price of $154,000, a target previously set by the asset manager in a recent report. Speaking in an interview on Bankless, Sigel explained that Ethereum’s path to a six-figure price would involve a significant increase in its market share. He stated, “In that case, ETH would be capturing 90% of all smart contract value intermediation… so the penetration rates get pretty chunky, so Ethereum essentially accounts for 15% of the total financial markets. And then 50% of the advertising market hosted on open-source blockchains. And between 20% to 25% of information technology (IT) infrastructure and artificial intelligence (AI) going through open source blockchain.”

Sigel also highlighted the influence of the global macro economy on Ethereum’s prospects. He mentioned that a scenario in which emerging markets thrive and the US dollar performs poorly, coupled with a favorable regulatory environment for open-source digital assets, would greatly contribute to Ethereum’s success in reaching a six-figure price.

In their earlier report, VanEck set a base case target for Ethereum at $22,000, representing a potential gain of 518% from the current level. However, to achieve the bull case target of $154,000, Ethereum would need to appreciate by a staggering 4,225% from its current price.

As of now, Ethereum is trading at $3,560.

Please note that the opinions expressed in this article are not investment advice, and investors are advised to conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this article was published, does not recommend the buying or selling of cryptocurrencies or digital assets and is not an investment advisor.