Bitwise CEO Hunter Horsley said that Ethereum is not competing with Bitcoin, but replacing outdated Web2 and financial systems.
Ethereum ETH $1 988 24h volatility: 2.9% Market cap: $239.84 B Vol. 24h: $29.50 B is building the infrastructure for the next version of the internet, according to Bitwise CEO Hunter Horsley, and that may just send ETH to $10,000 and beyond.
Horsley said that Ethereum and Bitcoin BTC $66 829 24h volatility: 2.1% Market cap: $1.34 T Vol. 24h: $55.76 B are fundamentally different assets. Bitcoin is digital gold, a store of value. Ethereum, on the other hand, is becoming the foundational layer of a decentralized digital economy.
Ethereum isn't competing with Bitcoin.
It's competing with web 2.0 and legacy financial services software —
We're going to move away from the "CoinMarketCap" era over the next 6-12 mo; away from the view that every crypto asset is the same, just diff mkt caps.
We're going to…
— Hunter Horsley (@HHorsley) July 13, 2025
Meanwhile, according to CoinMarketCap data, ETH is trading around $3,040, up nearly 3% in the past 24 hours, and up 18% in the past week. Trading volume has soared by 60%, indicating renewed investor interest.
Horsley stated that just like iPhone apps share the same technology but do very different things, different blockchains also have unique uses and potential, even if they’re built on similar principles.
$1.5M per Coin?
EMJ Capital founder Eric Jackson believes Ethereum (ETH) is “underpriced” and poised for a sharp rally, with a base-case target of $10,000 by March 2026, and a long-term potential of $1.5 million per coin.
Our base case?
📈 ETH hits $10K by end of this cycle.
Our bull case?
📈📈 $15K+ if L2 adoption and ETF inflows beat expectations on the new staking approval expected before October.
And none of this assumes a massive new breakout in DeFi or NFTs or explosion in stablecoins like…— Eric Jackson (@ericjackson) July 13, 2025
In a series of posts, Jackson argued that Ethereum is becoming the dominant infrastructure layer in crypto, driven by deflationary tokenomics and institutional use. He expects the next major catalyst to be the SEC’s approval of staking-enabled Ether ETFs, likely before October.
“If some part of commerce stays in crypto and moves away from fiat,” Jackson argues, “then you believe in ETH.” And if Ethereum continues to capture this shift, ETH holders today may be sitting on what he calls a “100-bagger,” a 10,000% return.
Quiet Accumulation, Loud Implications
Nasdaq-listed SharpLink Gaming has accumulated 270,000 ETH, currently valued at over $825 million, since early June. The firm has been purchased at an average price of $2,667, giving it an unrealized gain of approximately $81.8 million, according to data from Arkham.
On July 13, SharpLink acquired an additional 16,374 ETH (worth around $48.85 million) from a wallet linked to Galaxy Digital’s OTC desk. This followed a 21,487 ETH purchase on July 11 for $63.7 million.
. @SharpLinkGaming 在 7 小时前继续购进 16,374 枚 ETH ($48.85M)，ETH 总持仓量已经 27 万枚了。
SharpLink Gaming 从 6 月初开始以微策略的运作模式储备 ETH 以来，已经累计购进 27 万枚 ETH。 购买均价约 $2,667，目前浮盈 $8180 万。
地址链接🔗👉：https://t.co/QHgfbHpSZX
本文由… https://t.co/J77cdBqf9G pic.twitter.com/ARV5Nf2neJ
— 余烬 (@EmberCN) July 14, 2025
The company pivoted to an Ethereum treasury strategy in May after a $425 million private placement led by Consensys, bringing Ethereum co-founder Joseph Lubin on board as chairman.
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