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Eric Trump, project lead at World Liberty Financial (WLF), believes Ethereum (ETH) is undervalued and should be trading above $8,000 right now. His claim is based on Ethereum’s historical correlation with the Global M2 money supply, which hit a record high in June. According to Trump, the altcoin is lagging behind its usual price trajectory tied to global liquidity trends, and that spells major upside potential for long-term investors.
Ethereum vs. Global M2: A Tightly Linked History
Global M2, or the total money supply including cash and savings, is often used as a measure of liquidity in the financial system. In June 2025, the U.S. M2 money supply surged 4.5% year-over-year to $22.02 trillion—marking its 20th consecutive month of growth and the highest annual gain since mid-2022.
This massive influx of liquidity has historically correlated with strong rallies in Ethereum and other major digital assets. Prominent crypto analyst “TedPillows” recently pointed out: “Comparing with M2 supply growth, ETH should be trading above $8,000 by now.” Eric Trump publicly agreed, adding more weight to the narrative that ETH is significantly undervalued.
Ethereum Finds Support at $3,600—Is It Winding Up for a Bigger Move?
Ethereum’s price action has been volatile in July. After climbing as high as $3,900 earlier this week, the token faced short-term selling pressure due to a major 640,000 ETH unstaking event. However, ETH is currently stabilizing near the $3,600 support zone, which many analysts consider a strong technical base.
Despite the dip, Eric Trump remains confident in ETH’s longer-term path—especially when looking at the macro picture.
Institutional Inflows Send a Strong Signal
While retail traders appear cautious, institutions are diving in. On July 24 alone, spot Ethereum ETFs attracted a whopping $214 million in fresh capital. That marked the 15th straight day of positive inflows into Ether ETFs, a clear sign of rising institutional confidence.
Among the biggest winners, Fidelity’s FETH ETF took in $203 million in a single day. Meanwhile, BlackRock’s Ethereum ETF surpassed $10 billion in total inflows within just one year, making it the third-fastest ETF in U.S. history to hit that milestone, behind only IBIT and FBTC.
Mike Novogratz, CEO of Galaxy Digital and a longtime crypto bull, echoed this optimism. He recently said that ETH is likely to outperform Bitcoin in the second half of the year.
Can Ethereum Catch Up to the M2 Growth Curve?
The growing disconnect between Ethereum’s current price and the Global M2 expansion has traders questioning whether a major breakout is ahead. Historically, crypto assets tend to follow liquidity. With the U.S. Federal Reserve printing more dollars and global M2 surging, there’s strong reason to believe that Ethereum could be gearing up for a move toward $8,000—or even higher.
Some experts, including BitMEX co-founder Arthur Hayes, believe Ethereum could hit $10,000 before the end of 2025 if current trends continue.
Final Thoughts
Eric Trump’s $8,000 Ethereum target may sound ambitious, but it’s grounded in macroeconomic reality. With M2 at record highs, institutional capital flowing in, and Ethereum maintaining strong on-chain fundamentals, the case for a major ETH rally is building. Whether it hits $8,000 this year or not, one thing is clear: Ethereum is a central player in the next wave of crypto growth.
