Ethereum Surges to Record High as Analysts Predict $10K+ Future

Ethereum set a new all-time high of nearly $5,000 on Sunday, breaking its previous price record from 2021. Forecasts predict further gains for Ethereum, reaching $10,000.

Two months ago, the crypto scene was still debating whether Ethereum could slip below the $2,000 mark

But the markets took a completely different turn – overnight, Ethereum climbed to $4,950, setting a new all-time high. That this summer belongs to ETH had already become apparent in recent weeks, when Ethereum even outperformed Bitcoin in price performance. Now, the previous price record from 2021 has finally been broken, and ETH, as the number two cryptocurrency, has upward prospects.

Crypto celebrity Arthur Hayes, for example, set his price target for Ethereum at $10,000 in an interview with Crypto Banter. In the best-case scenario, ETH could even reach $20,000, according to Hayes. He is referring to a time horizon until early 2029, when US President Donald Trump’s second term ends. Hayes assumes that Trump will implement an expansionary monetary policy that will inject a lot of fresh capital into the markets. In this environment, Bitcoin could reach $250,000, Hayes says, repeating his BTC forecast from June.

Tom Lee, another top crypto celebrity, also predicts $10,000 for Ethereum. Lee recently took on a leadership role at the Ethereum company Bitmine Immersion (BMNR), a company that is one of the main reasons for the recent ETH boom. A handful of companies, such as Sharplink Gaming (SBET), are now focusing on building Ethereum reserves and are being celebrated for this on exchanges.

Conclusion: Ethereum is entering new territory in terms of price

It’s no coincidence that Tom Lee and Arthur Hayes are making optimistic Ethereum predictions. As CEO of Bitmine Immersion (BMNR), Lee is practically obligated to do so, and Hayes has recently increased his Ethereum reserves, as can be seen from his wallet. But HashKey, for example, also sees ETH at $8,000 by the end of the year and, like many others, is preparing for a positive Ethereum future.

Ethereum ETFs in the US have already brought massive capital inflows totaling around $10 billion to ETH since May, another encouraging indicator. With the new all-time high behind it, Ethereum is now entering uncharted territory in terms of price.

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