Token could hit $10,000 says John

• John Deaton predicts Ethereum could reach $10,000, driven by strong ETF demand.
• Ethereum ETFs saw $2.8 billion in August inflows, while Bitcoin ETFs lost $1.2 billion.
• Corporate adoption and laws like the Genius Act support Ethereum’s price growth.

XRP lawyer John Deaton is calling it: Ethereum could climb to $10,000. He’s pointing to the $2.8 billion that flowed into Ethereum ETFs this August as a big sign of growing interest.

Meanwhile, Bitcoin ETFs are bleeding cash, with $1.2 billion pulled out this month. It’s a clear shift, and Deaton thinks companies jumping on Ethereum as a treasury asset are a big reason why.

ETF Cash and Company Backing

Deaton, who’s been fighting for XRP holders against the SEC, says the money pouring into Ethereum ETFs shows it’s got legs for the long haul. ETF analyst Nate Geraci said $340 million rolled into these funds just on Friday, pushing August’s total to $2.8 billion. Since July, Ethereum ETFs have pulled in $8.2 billion, way ahead of Bitcoin’s $4.8 billion.

Geraci says this flip in what investors want is a big deal. Deaton also mentioned Fundstrat’s Tom Lee, who thinks new laws like the Genius Act could give Ethereum a lift, kind of like how stablecoins shook up crypto by solving price swings. Lee’s tied to Bitmine, so he’s got skin in the game, but Deaton says the numbers don’t lie.

Some people are betting Ethereum could hit $20,000 this cycle, but Deaton’s sticking with $10,000 as a solid target. Ethereum touched $4,800 recently but slipped to $4,746, down 1.7% in a day, though it’s up 7% this week and 30% this month. With both big investors and regular folks piling in, plus companies holding Ethereum, Deaton’s feeling good about where it’s headed.