Svmuu News According to Etherealize's latest research report, which proposes the "Productive Money" theory, if Ethereum captures the combined monetary premium of approximately $31 trillion currently held by gold and Bitcoin, its implied price could exceed $250,000, far above the current level of around $2,300.
The report points out that ETH not only possesses traditional monetary attributes such as scarcity, verifiability, and censorship resistance but can also generate an annualized yield of about 2%–4% through staking, achieving an "interest-bearing" monetary characteristic, thereby distinguishing it from non-productive assets like gold and Bitcoin.
Furthermore, within the DeFi system, ETH serves a triple demand source as a "collateral asset + fee-burning mechanism + staking lock-up," forming a mechanism for supply contraction and value accumulation. The report believes that with the development of on-chain finance and asset tokenization, ETH is expected to simultaneously possess the dual attributes of a "store of value + productive asset."
However, the report also notes that ETH's path to achieving this valuation still faces multiple uncertainties including regulation, technology, and competition. Its long-term value revaluation depends on the market's recognition of its monetary properties.