Recently, discussions about Ethereum's valuation in the crypto market have heated up again. According to industry analysts, Ethereum's future market cap could expand from hundreds of billions of dollars to trillions, and the target ETH price of $15,000 is not without support.

The supporting logic for this judgment lies in Ethereum's actual capacity to support its ecosystem. Currently, mainstream applications such as DeFi, NFTs, stablecoins, and Layer2 solutions are almost all concentrated on the Ethereum network. The deep accumulation of developers and capital has made it a key hub in the crypto ecosystem. From another perspective, if Ethereum is compared to civilization-level infrastructure like the internet or power grids, then its value reference frame is no longer just a simple blockchain project, but the underlying infrastructure involved in the operation of the digital economy.

Real-world catalysts are also accumulating. After the spot ETF channels are opened, traditional capital is accelerating its deployment of Ethereum assets, considering it an important component of digital asset allocation. On the technical side, upgrades like Danksharding continue to improve performance, and the ceiling for ecosystem expansion has not yet been reached.

Of course, the reasonableness of these judgments needs to be validated through actual market performance. There are many variables between the current price and $15,000, depending on macro liquidity, regulatory environment, and the progress of ecosystem development. However, there is no doubt that the redefinition of Ethereum's long-term value has become one of the most important topics in the current market.