Ethereum Price Forecast: Buying Momentum Returns Amid Steady Network Growth

Ethereum’s price has shown renewed buying momentum, supported by strong network growth and revised market assumptions. VanEck’s updated Ethereum valuation model now predicts a 2030 price range of $55,000 to $65,000. This is a significant jump from the earlier $22,000 base case and reflects improved market share and revenue growth.

The revised model attributes the price shift to Ethereum’s increasing dominance in decentralized finance, stablecoins, and tokenization. The network now holds over 60% dominance in these sectors, with the updated model assuming a 2030 market share of 85%. Layer 2 solutions have further accelerated adoption rates.

Revenue projections have also risen. Ethereum’s 2030 revenue target has been adjusted from $78 billion to $130 billion. This change is driven by stablecoin volume, blob fees, and real-world asset tokenization.

Why the Move Happened

The updated VanEck model accounts for structural shifts in Ethereum’s revenue and supply dynamics. Staking participation and fee burns have reduced the projected circulating supply from 100.1 million to 95 million ETH by 2030. This reduction amplifies the price impact of projected cash flows.

The terminal multiple applied to Ethereum’s cash flows has also increased from 33x to 40x. This reflects Ethereum’s expanded role as infrastructure for global financial settlement. The network now processes clearing operations for multiple asset classes.

How Markets Responded

Ethereum ETFs have seen outflows recently. On January 9, Ethereum spot ETFs recorded $93.82 million in net outflows, part of a three-day exodus totaling $351.44 million. This mirrors Bitcoin ETF outflows and reflects a broader trend of redemptions.