Crypto lawyer and former U.S. Senate candidate John Deaton is feeling optimistic about Ethereum (ETH). He recently shared his belief that the second-largest cryptocurrency could hit $10,000 in this current market cycle. According to Deaton, rising interest from big investors and strategic buying by companies holding large amounts of ETH are driving this bullish outlook.

Deaton made these comments in response to a post from ETF analyst Nate Geraci, who pointed out a significant shift in investor funds. In August alone, Ethereum spot ETFs brought in $2.8 billion in new investments, including $340 million in one day. Meanwhile, Bitcoin ETFs saw $1.2 billion in outflows during the same time period. Since early July, ETH ETFs have pulled in $8.2 billion compared to Bitcoin’s $4.8 billion. This data shows growing confidence in Ethereum as an investment.

Deaton also mentioned Tom Lee, Chief Investment Officer at Fundstrat and Chairman of Bitmine, which is an ETH treasury company. Lee has supported Ethereum’s future growth, especially due to the rising use of stablecoins—digital assets tied to traditional currencies. He believes stablecoins could be as game-changing for crypto as ChatGPT was for AI. This potential is further boosted by recent U.S. policy developments like the GENUIS Act.

Another major factor Deaton pointed out is the ongoing accumulation of ETH by Ethereum-focused companies. These include Bitmine (run by Tom Lee), Sharplink (led by Ethereum co-founder Joseph Lubin), and Ether Machine (run by Andrew Keys). According to Deaton, these companies are strategically stockpiling ETH because they believe it will play a key role in the future of digital finance. Even though some of these voices have personal stakes in Ethereum, their collective action points to a serious long-term bet on its value.

Deaton clarified that while he’s not sure if ETH can reach the more ambitious $20,000 target that some are predicting, a $10,000 price tag seems realistic if current trends continue—especially with major players consistently buying and holding ETH.

Right now, Ethereum is trading around $4,775 after gaining nearly 2% in the last 24 hours. Over the past week and month, it’s up by 7.28% and 23.98% respectively. With a market cap of $576 billion, Ethereum remains the second-largest cryptocurrency and ranks as the 22nd biggest asset globally.

**Keywords:** Ethereum price prediction, ETH $10K, John Deaton, institutional inflows, ETH ETFs, Tom Lee, Bitmine, ETH treasury companies, stablecoins, crypto investment trends, Ethereum accumulation