Consensys Predicts a $15,800 Ethereum by 2028, Lays Out Its “Trustware” Thesis

Consensys, the blockchain software technology company, released their latest long-term valuation model for Ethereum, projecting the price of ETH to reach $15,800 by 2028. The bullish forecast comes as Ethereum’s price has surged over 7% today to push past the $3,370 mark.

Ethereum recorded a 7.16% gain over the past day, reaching a high of $3,368.92 on July 17.

The token’s market capitalization has climbed to $406.67 billion, and its 24-hour trading volume has jumped by 27.69% to $48.02 billion, which suggests heightened interest from traders.

According to trading data, Ethereum remained range-bound during the early part of the day before a breakout phase began around 3:00 PM on July 16. The rally peaked near $3,400 in the early hours of July 17, followed by minor fluctuations that did not erase its gains.

As Ethereum approaches its 10th anniversary, blockchain company Consensys a thesis positioning the network as key infrastructure in what it calls the “trustware” era.

The company argues that Ethereum’s expanding role in decentralized finance, stablecoins, and tokenized assets signals a major shift toward a new kind of programmable, verifiable trust that is enabled by code.

Consensys estimates that global spending on traditional trust infrastructure, which includes legal, insurance, and compliance systems, reaches a massive $9.3 trillion annually. They argue that Ethereum offers a more efficient, transparent, and secure alternative.

The Consensys forecast is based on its new “cost-to-corrupt” model. This model links Ethereum’s market value directly to the level of economic security it must provide to defend the value of the assets and applications it hosts.

Under this model, Consensys forecasts that the price of ETH could reach $4,900 by the end of 2025 and $15,800 by 2028. The key assumptions behind this prediction include the Ethereum network securing $1 trillion in stablecoins, $500 billion in tokenized real-world assets (RWAs), and $300 billion in total value locked (TVL) in DeFi protocols.

The report also labels these figures as “conservative,” noting that some projections for the RWA market alone reach as high as $16 trillion by 2030.