Macro investor and fund manager Dan Tapiero believes that Ethereum (ETH) is undervalued in the current market.
The CEO of investment company 10T Holdings told his 120,000 followers on social media platform X that ETH could skyrocket 171% from its current value as decentralized finance (DeFi) projects built on the company's blockchain could thrive under President Donald Trump.
Trump, expected to take office in January 2025, has promised to fire the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, a figure seen as having an anti-crypto stance.
"Ethereum is too cheap. It will explode from here. Gensler and his associates killed DeFi in the U.S. in 2022-24. But DeFi still survives and surpasses everything. Therefore, ETH will bounce from $4,000 to exceed $8,000 by next year."