A new research report predicts Ethereum (ETH) could reach a price near $706,000 per coin, based on a fully diluted market capitalization of roughly $85 trillion.
The report frames ETH as the foundation of the emerging on-chain economy, comparing it to 'digital oil' due to its deflationary reserve asset nature.
Key factors contributing to the optimistic valuation include Ethereum's monetary design, staking yield, and its role as a censorship-resistant reserve asset within settlement protocols.
The research outlines near-term and medium-term price milestones for ETH, with catalysts including the tokenization of real-world assets, institutional staking yield demand, and the strategic stockpiling of ETH.