Joseph Lubin Predicts Massive Wall Street Adoption of Ethereum
Consensys founder Joseph Lubin asserts that significant Wall Street adoption of Ethereum will eventually see Ether increase by 100 times, potentially overtaking Bitcoin as a “monetary base.”
In a post on X this past Saturday, the Ethereum co-founder stated that Wall Street will begin to stake Ether, as they currently incur costs for their infrastructure, and Ethereum will “replace much of the many siloed stacks they operate.”
Lubin anticipates this will generate substantial demand for the asset, leading to significant gains from current levels.
He noted that financial institutions will need to evolve into TradFi companies operating on decentralized frameworks, which entails staking, running validators, operating layer-2 networks, engaging in DeFi, and developing smart contract software for agreements, processes, and financial instruments.
Wall Street Token and Market Insights
Last week, VanEck CEO Jan van Eck referred to Ether (ETH) as “the Wall Street token,” emphasizing that banks must adopt the network to facilitate stablecoin transfers or risk being left behind.
Lubin expressed his complete agreement with Fundstrat Global Advisors managing partner Tom Lee, who mentioned in August that Wall Street will stake and utilize Ethereum, suggesting that ETH could surpass Bitcoin in network value.
“Yes, Ethereum/ETH will flippen the Bitcoin/BTC monetary base,” he affirmed.
Currently, Ether’s market capitalization is approximately a quarter the size of Bitcoin’s, indicating there is still considerable progress to be made. However, its dominance in the crypto market has doubled since April, reaching 14.3%, according to TradingView.
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Future Predictions and Market Dynamics
Lubin, who also chairs Sharplink Gaming, the world’s second-largest Ethereum treasury company, remarked that Lee “is not nearly bullish enough.”
“Nobody on the planet can currently fathom how large and fast a rigorously decentralized economy, saturated with hybrid human-machine intelligence, operating on decentralized Ethereum Trustware, can grow,” he stated, adding:
“Joseph Lubin’s prediction of Ethereum flipping Bitcoin’s monetary base is resonating with institutional clients, who are increasingly allocating treasury assets to ETH due to its staking yield potential and role in tokenization ecosystems,” commented Nassar Achkar, chief strategy officer at the CoinW crypto exchange.
While Bitcoin continues to be the leading store of value, Achkar noted, “Ethereum’s programmability and Wall Street’s adoption of its staking and DeFi rails could accelerate the ‘flippening’ by transforming ETH into both a productive asset and the foundational layer for global financial infrastructure.”
Recent Developments in Stablecoins
Meanwhile, the stablecoin supply on Ethereum has exceeded $160 billion, setting an all-time high and more than doubling since January 2024, as reported by Token Terminal on Saturday.
“Stablecoin demand seems exponential on Ethereum,” commented Tom Lee the next day.
Over the weekend, Ether saw gains, inching close to the $4,500 mark but ultimately could not break through that resistance, falling back below $4,400 during early trading on Monday morning.
