Joseph Lubin, the founder of ConsenSys and Chairman of SharpLink Gaming, said Ethereum could grow 100x and pass Bitcoin in value.
He backed his explanation, noting that Wall Street would adopt staking and build on Ethereum’s network.
His remarks came after comments from Tom Lee of Fundstrat, as ETH faced a major price support and ETF outflows.
Wall Street and Advocacy For Ethereum
Joseph Lubin, who has a rich history in the Ethereum ecosystem, has issued a strong prediction about the asset.
He responded to Tom Lee of Fundstrat, who had said that Ethereum could rival Bitcoin. Lubin agreed with much of Lee’s view and said ETH’s growth could be even bigger.
Lubin explained that large financial firms, including Wall Street banks, would soon adopt Ethereum more widely.
He said they would stake Ethereum, run validators, and use smart contracts for agreements and processes.
In his view, this would replace many of the older systems that banks still rely on.
He used JPMorgan as an example. According to him, the bank runs on many different systems due to years of acquisitions.
He said ETH could unify these systems because it is built for decentralized operations.
He also pointed out that JPMorgan had tested Ethereum technology since 2014, which gave it early knowledge and experience.
Lubin also said the claim that Layer 2 networks might hurt Ethereum’s Layer 1 was wrong.
He noted projects such as Linea and Proof of Burn, arguing they would drive more growth on the main network rather than weaken it.
Ethereum Could Flip Bitcoin in Value
Lubin stated that Ethereum’s potential was greater than many expected. He said the asset could grow 100 times from current levels.
He also said Ethereum might flip Bitcoin by becoming the leading digital asset in terms of monetary value.
He described ETH as a form of decentralized trust, which he believed was more valuable than any other digital or physical commodity.
Lubin argued that no one could predict how large it might become once more institutions adopted it.
He also confirmed that he often spoke with Tom Lee to exchange ideas on strategy. However, he disagreed with Lee on one point.
The SharpLink Gaming Chairman said Lee was not nearly bullish enough and that it was not possible to be too positive about growth.
His remarks placed ETH at the center of what he believed would be a major shift in global finance.
According to Lubin, traditional firms would need to adapt by using Ethereum’s network for many of their future operations.
ETH Price Steady but ETF Funds See Withdrawals
While Lubin shared his long-term view, Ethereum’s short-term market showed mixed signals.
ETH traded at $4,363.43, which was a small daily gain of 0.43%. Market analyst Ali said Ethereum price could find support at $4,000 if prices slipped.
At the same time, ETH-linked funds faced large outflows. Data from SoSoValue showed $164.64 million left Ethereum ETFs as of August 29.
Grayscale’s ETH and ETHE funds recorded outflows of $61.30 million and $28.64 million. Fidelity’s ETH fund saw $51.02 million in withdrawals, while Bitwise recorded $23.68 million.
These numbers reflected caution among investors, even as Lubin spoke about ITs long-term strength.
The contrast showed that while institutions might be preparing for bigger use of Ethereum in the future, short-term confidence remained under pressure.
Lubin’s statement underlined his belief that Ethereum could stand above Bitcoin in the years ahead.
Yet the market reaction showed that investors were still weighing the risks in the present moment.
