How a ‘Spot-Driven’ Rally Could Fuel Joe Lubin’s 100x ETH Prediction

Ethereum co-founder and Consensys founder Joseph Lubin has issued his most bullish prediction yet, calling for a 100x surge from current prices that would see ETH flip Bitcoin and become the world’s monetary base.

His high-conviction call is based on the thesis that Wall Street’s eventual adoption of Ethereum as its core settlement layer is inevitable. At the time of writing, ETH around $4,481, slightly below last week’s $4,800 peak.

on Saturday, Lubin argued that Wall Street will inevitably adopt Ethereum as its settlement layer, replacing much of the siloed and costly infrastructure banks currently maintain.

This, he said, would force financial institutions to operate on decentralized rails by staking ETH, running validators, deploying layer-2 networks, and participating in DeFi.

“ETH will likely 100x from here. Probably much more,” Lubin , adding that Ethereum’s programmable infrastructure makes it the “highest octane decentralized trust commodity” in existence.

His comments align with VanEck CEO Jan van Eck, who recently Ether “the Wall Street token,” warning that banks must embrace it for stablecoin settlement or risk irrelevance.

Lubin also expressed full alignment with Fundstrat’s Tom Lee, who has long argued Ethereum could flip Bitcoin in value once institutional staking takes hold.

Ethereum currently holds 14.3% market dominance, about a quarter the size of Bitcoin’s capitalization.

But Lubin insists the gap will close as Ethereum matures, citing exponential growth in on-chain stablecoins, which surpassed $160 billion in supply over the weekend.

Meanwhile, fresh data from shows Ethereum’s rally above $4,800 in late August was primarily spot-driven.

CryptoQuant’s analysis shows that the spot Volume-Weighted Average Price (VWAP) has been rising in tandem with the price, while the perpetual futures VWAP has been lagging. This signals that real cash buys from long-term investors, not speculative leverage, are driving the current demand.

This is a key distinction from 2024’s $4,000 breakout, which was heavily leveraged and ended in a sharp correction. Analysts argue the current cycle reflects long-term investment flows and could form a sustainable price base.

As long as the gap between spot and perpetual VWAP remains moderate, Ethereum’s momentum looks healthier and less prone to sudden crashes.

On the daily chart, ETH is consolidating just under resistance near $4,500. The Bollinger Bands show price cooling off from the upper band at $4,859, while the Relative Strength Index (RSI) at 55.08 suggests neutral momentum.

The MACD shows a mild bearish crossover, but not yet strong enough to confirm downside acceleration. The CMF at -0.12 signals slight capital outflows, though this could reverse if ETH breaks above $4,500.

A sustained close above this level would open the path to $5,000 psychological resistance, followed by potential upside toward $5,500 if momentum builds. Conversely, failure to hold support at $4,100–$4,200 could invite a retest of the $3,800 zone.