Ethereum Blitzkrieg: Is This Just the Beginning?

Last week's crypto rally may have been just the opening shot in a longer trend, according to Milk Road analyst John Gillen. He argues that Ethereum (ETH) is key to understanding what comes next.

The smart money had already positioned before the move, with Paul Tudor Jones raising his IBIT stake by 18.9% and VanEck's Matthew Sigel actively accumulating. Meanwhile, Citigroup announced Bitcoin custody before year-end, and Jim Cramer sold his Bitcoin in early August, a clear counter-indicator.

Gillen believes Ethereum is the settlement layer for everything that comes next. Tokenized real-world asset market growth has been explosive, from $2.3 billion three years ago to $44.5 billion today, with Ethereum holding 65% of that market across 35 competing chains.

Galaxy Research VP Lucas Tcheyan agrees, saying ETH/BTC ratio is one of the best trades in crypto right now. Macro investor Jordi Visser expects Ethereum to outperform Bitcoin this year because TradFi can value it like a stock using cash flow, yield, and network effects from stablecoins and tokenization.