Etherealize : Ethereum ou dépassement de 250 000 dollars, la narration de la monnaie productive attire l'attention

ChainCatcher message, Etherealize’s latest research report proposes the theory of “Productive Money,” suggesting that if Ethereum captures the current monetary premium of approximately 31 trillion USD from gold and Bitcoin combined, its implied price could exceed 250,000 USD, far above the current level of about 2,300 USD.

The report points out that ETH not only possesses traditional monetary attributes such as scarcity, verifiability, and censorship resistance, but can also achieve an “interest-bearing” monetary characteristic through staking, with an annualized yield of about 2%–4%, thus differentiating itself from non-productive assets like gold and Bitcoin. Additionally, ETH in the DeFi ecosystem simultaneously fulfills “collateral asset + fee burning + staking lock-up” three demand sources, forming a mechanism of supply contraction and value accumulation.

The report believes that with the development of on-chain finance and asset tokenization, ETH is expected to possess both “store of value + productive asset” dual attributes. However, the report also notes that achieving this valuation path for ETH still faces multiple uncertainties such as regulation, technology, and competition, and its long-term value reassessment depends on the market’s recognition of its monetary properties.