Joseph Lubin, co-founder of Ethereum and CEO of MetaMask, predicts that demand for ETH will exceed supply within two years. He attributes this to the increasing adoption of Ethereum by financial institutions and the development of market infrastructure. Lubin suggests that staking, the burning of ETH through network activity, and corporate treasury acquisitions will further restrict supply.
Lubin acknowledges that the network has not yet achieved widespread mainstream adoption, noting that most users currently hold ETH and Bitcoin for speculative purposes. He highlights the roles of SEC Chair Paul Atkins and CFTC Chair Michael Selig in reducing regulatory uncertainty. Meanwhile, MetaMask is transitioning into a self-custody financial application.
The forecast follows a debate on X with Jeff Dorman, CIO of the crypto fund Arca, who questioned the long-term value proposition of layer-1 tokens. Despite Lubin's outlook, ETH has declined by over one-third in value over the past year and remains below half of its August 2025 all-time high. Some market participants, however, draw parallels to price patterns observed in 2025.
Lubin continues to support institutional integration through his involvement with the nonprofit Ethlabs. He previously stated in October that the crypto market had moved past the winter phase. Despite these projections, the asset has experienced further price depreciation since those comments were made.
