Core Viewpoint - Citizens Bank predicts that ether (ETH) could exceed $10,000 within the next two years due to increasing adoption, institutional inflows, and a decreasing supply [1][6]. Group 1: Adoption and Demand Drivers - The bank highlights the accelerating adoption of Ethereum as a significant factor that will benefit ether, emphasizing its position as the leading smart contract platform [1][2]. - Institutional adoption, ETF inflows, and real-world asset tokenization are identified as major drivers of new demand for ether [4]. Group 2: Supply Dynamics - The report notes that by 2027, less than 50 million ether may remain liquid out of approximately 120 million currently outstanding, with 35 million already staked [5]. - Mechanisms such as staking, treasury absorption, and the EIP-1559 fee burn are contributing to a shrinking supply of ether [4][5]. Group 3: Market Impact and Valuation - The analysts observe that on-chain settlement volumes are expected to grow exponentially, with ether's market capitalization historically correlating with the total value secured on the network [6]. - In a constrained supply environment, even moderate capital inflows could significantly impact ether's price, leading to projections of it climbing well above $10,000 [6].