Ethereum has long stood as the backbone of decentralized innovation, powering everything from DeFi to NFTs. But recent developments suggest its role—and value—could expand dramatically in the coming years. A detailed 79-page research report by Nikhil Shamapant, a blockchain investor and resident physician at Mount Sinai School of Medicine in New York, has sparked widespread discussion across crypto circles. His bold prediction? Ethereum (ETH) could reach $150,000—driven by what he calls the “triple halving” effect, declining liquidity, growing institutional demand, and increasing mainstream adoption.
Let’s break down the core arguments behind this ambitious forecast and explore the forces shaping Ethereum’s potential price surge.
The Concept of Ethereum’s “Triple Halving”
While Bitcoin’s halving events are well known for reducing supply and fueling bull markets, Ethereum doesn’t have a fixed block reward halving. However, Shamapant argues that a series of upcoming upgrades will create an equivalent—or even stronger—supply shock.
He refers to this phenomenon as the "triple halving", not because of literal halvings, but because the cumulative impact on ETH supply and sell pressure mirrors three consecutive 50% reductions—resulting in just 12.5% of current sell pressure remaining.
This dramatic reduction stems from three key developments:
- EIP-1559: Introducing Deflationary Burns
- The Merge to Proof-of-Stake (Ethereum 2.0)
- Increased Staking and DeFi Lockups Reducing Circulating Supply
👉 Discover how network upgrades are reshaping Ethereum’s economic model.
1. Declining Liquidity: More ETH Being Locked Up
One of the most powerful drivers behind Ethereum’s potential price appreciation is the decrease in circulating supply due to staking and DeFi participation.
Currently, over 12% of all ETH is locked—either staked for validation or deposited into decentralized finance protocols. This number is expected to grow significantly.
Staking Rewards Drive Long-Term Holding
With Ethereum’s transition to Proof-of-Stake (PoS), users can now stake their ETH to help secure the network and earn rewards—currently averaging between 3% and 5% annually, with higher yields during early phases.
But beyond staking, DeFi platforms offer even more attractive returns:
- Yield farming on protocols like Aave, Compound, and Curve often delivers APYs above 5–10%, sometimes exceeding 25%+ in liquidity mining programs.
- Top DEXs such as Uniswap, SushiSwap, and Curve absorb vast amounts of ETH as liquidity providers deposit assets to earn trading fees.
As more investors chase yield, less ETH remains freely tradable. Shamapant predicts that up to 30% of total ETH supply could be locked within a few years—effectively removing it from circulation and increasing scarcity.
2. Rising Institutional and Corporate Demand
While early crypto adoption was driven by retail investors, the landscape is shifting. Major financial institutions and global corporations are now integrating Ethereum-based technologies into their operations.
Key Developments Fueling Demand:
- Robinhood now supports trading for ETH and 15 other cryptocurrencies.
- PayPal, Venmo, and Tesla have added crypto services, including Ethereum transactions.
- Visa enables settlements using USDC, a stablecoin issued on the Ethereum blockchain.
- Futures and derivatives platforms are expanding offerings to include Ethereum-based financial products.
Perhaps most significantly, Canada launched the world’s first physically backed Ethereum ETFs in April 2025. These ETFs directly hold ETH in cold storage, allowing traditional investors to gain exposure without managing private keys.
Purpose Investments’ Ethereum ETF alone brought in over $1 billion in inflows, signaling strong institutional appetite.
These trends point to one conclusion: Ethereum is becoming a legitimate asset class within the global financial system.
👉 See how institutional adoption is accelerating Ethereum’s growth.
3. The Triple Halving Mechanism Explained
Shamapant’s “triple halving” concept hinges on a dramatic reduction in daily sell pressure—from approximately 22,300 ETH per day today to just 2,600 ETH post-upgrades, a drop of nearly 90%.
Here’s how each component contributes:
🔹 EIP-1559: Burning Base Fees
Implemented during the London hard fork, EIP-1559 changed how transaction fees work:
- A portion of gas fees (the base fee) is now permanently burned.
- Only tips go to validators.
- When network usage exceeds 50%, base fees increase; below 50%, they decrease.
In high-activity periods—such as NFT mints or DeFi surges—thousands of ETH are burned daily, turning Ethereum into a deflationary asset during peak demand.
Since The Merge, Ethereum has burned over 2 million ETH, creating sustained downward pressure on supply.
🔹 Ethereum 2.0 (The Merge): From Mining to Staking
The shift to Proof-of-Stake eliminated energy-intensive mining and replaced it with staking. Validators must lock up 32 ETH to participate—further reducing liquidity.
Additionally:
- New ETH issuance dropped by over 80% post-Merge.
- Annual inflation fell from ~4% to under 0.5%, and can go negative during high fee burn periods.
This transition not only improves sustainability but also turns ETH into a productive asset—similar to earning interest on a savings account.
🔹 Combined Effect = Triple Halving
| Phase | Daily Sell Pressure | Reduction |
|---|---|---|
| Pre-EIP-1559 & PoW | 22,300 ETH | — |
| Post-EIP-1559 / Pre-Merge | 15,700 ETH | ~30% ↓ |
| Post-Merge + Full Staking | 2,600 ETH | ~90% ↓ |
This progression mirrors three halving events:
50% × 50% × 50% = 12.5% of original sell pressure
Hence, the term "triple halving"—a structural shift that could propel prices upward if demand remains steady or grows.
4. Mainstream Adoption Is Accelerating
Beyond technical upgrades and economics, Ethereum is gaining real-world traction.
On-Chain Growth Metrics:
- Active addresses have grown steadily year-over-year.
- Daily transactions remain high despite Layer 2 scaling solutions absorbing some load.
- NFTs, gaming, and tokenized assets continue to thrive on Ethereum.
Google Trends data shows that while Bitcoin still leads in search volume, interest in Ethereum is catching up, especially around major upgrade announcements.
As Layer 2 networks like Optimism and Arbitrum reduce fees and improve speed, user experience improves—making Ethereum more accessible than ever.
FAQ: Addressing Common Questions
Q: What does “triple halving” mean if Ethereum doesn’t have halvings?
A: Unlike Bitcoin, Ethereum doesn’t have scheduled block reward cuts. Instead, the “triple halving” refers to the combined effect of EIP-1559 burns, reduced issuance after The Merge, and increased staking—all drastically lowering available supply.
Q: Is $150,000 for ETH realistic?
A: While speculative, the price target assumes continued innovation, growing adoption, and sustained reduction in sell pressure. If institutional inflows match or exceed Bitcoin’s trajectory, such valuations become plausible in a bull market scenario.
Q: How does staking affect ETH price?
A: Staking removes ETH from circulation. With over 28 million ETH already staked and locked, fewer coins are available for sale—increasing scarcity and upward price pressure.
Q: Could another blockchain overtake Ethereum?
A: Competition exists (e.g., Solana, Cardano), but Ethereum maintains dominant market share in DeFi, NFTs, and developer activity. Its robust ecosystem and first-mover advantage provide strong moats.
Q: What risks should investors consider?
A: Regulatory uncertainty, technological delays, macroeconomic conditions, and market volatility all pose risks. Additionally, smart contract vulnerabilities and scalability challenges remain concerns.
Final Outlook: A New Era for Ethereum
Nikhil Shamapant’s analysis isn’t just about price targets—it’s a holistic view of Ethereum evolving into a deflationary, yield-generating digital asset with deep institutional integration.
If current trends hold:
- By 2025, ETH could trade between $30,000 and $50,000 in a baseline scenario.
- In a full-blown bull market with sustained demand and reduced supply? $150,000 becomes a conceivable peak.
The convergence of technological maturity, economic tightening, and real-world utility positions Ethereum uniquely in the crypto landscape.
👉 Explore how Ethereum's evolution could redefine digital value.
Core Keywords:
Ethereum price prediction, ETH triple halving, Ethereum 2.0, EIP-1559 burn, staking rewards, DeFi liquidity, institutional adoption
Disclaimer: Cryptocurrency investments are highly volatile and carry significant risk. This article is for informational purposes only and should not be considered financial advice.