Over the past month, cryptocurrency markets have been performing exceedingly well, with the second-largest token by market capitalization, Ethereum (ETH), gaining over 40% and reaching $3,800 levels. Following a seemingly successful month, prediction markets on Kalshi and Polymarket, which collectively attracted over $12 million in trading volume, are speculating whether Ethereum could reach $5,000 by the end of the year.
Ethereum’s price has been on an upward trend since the start of July 2025, a significant improvement in its performance following months of trading below the $3,000 barrier. Catalyzing recent boosts are regulatory clarity in the US, a flow of institutional interest as Ethereum Exchange-Traded Fund (ETF) inflows surpassed $3 billion in mid-July 2025, and the blockchain’s recent Pectra upgrade.
As ETH continues to show resilience with its value remaining above $3,400, industry experts and investors continue to speculate just how high the token’s price can go in 2025, and prediction markets are offering hints as well.
ETH price predictions based on prediction markets
Collective bets on prediction markets remain bullish, indicating that Ethereum could see several price breakthroughs in the following months.
An open market on Kalshi (pictured above) shows a high probability Ethereum will reach at least $4,000 by the end of the year, with Yes contracts priced at 90¢ (89% chance). Traders are also bullish on Ethereum to reach at least $4,250, currently priced at 76¢ (78%) for Yes. While traders remain optimistic that Ethereum will continue on its upward trajectory, traders remain cautious as the Kalshi market currently assigns a 46% probability (Yes – 47¢; No – 54¢) that the token will reach $5,000 by the end of 2025.
Another Kalshi market forecasts a 65% chance (65¢) the token will fall below $3,250 this year, with just a 32% likelihood (32¢) of dropping below $2,500.
A different Polymarket market asks whether Ethereum could surpass its previous all-time high of $4,800 (which the token reached on Nov. 16, 2021) by the end of the year. The market currently forecasts a 59% probability, up from just 22% one month before.
ETH’s journey to $5K depends on macro clarity and scaling
While prediction markets remain highly in favor of ETH continuing on its upward price trajectory, experts note that a $5,000 price goal may only be plausible amid growing macroeconomic clarity and Ethereum scaling.
According to Amir Forouzani, the co-founder of Puffer Labs, a $5,000 price target by end of year “is not guaranteed.” However, he added that structurally, the ETH token “never looked stronger.”
“The programmability of Ethereum changed money forever. We got digital Dollars or stablecoins that enabled access to money on the furthest corners of the unbanked world. Staking and DeFi showed a new way of accessing yield and lend and borrow with no barriers onchain. Ethereum provides the strongest security and trust framework in the space, and eventually, over the coming decades, this will become widely recognized.”
Expert takes: The case for $5,000
A more bullish price analysis came from Eneko Knörr, the CEO and co-founder of Stabolut, who highlighted Ethereum’s role as the “leading Layer 1 platform” that hosts some of the most critical applications in the crypto space.
“Major institutions and global brands are increasingly building on Ethereum, and the steady rise in layer-2 adoption is only reinforcing its role at the center of the crypto economy… If the broader market continues its bullish trajectory, led by Bitcoin, Ethereum could realistically reach $5,000 by year-end. More importantly, the next trillion-dollar wave of digital asset adoption will be deeply institutional and highly regulated—and that wave will land on the most trusted, battle-tested Layer 1: Ethereum.”
A similar sentiment was shared by Jesús Pérez, the founder of Crypto Plaza, who said that Ethereum reaching $5,000 by the end of 2025 is “increasingly inevitable.” According to Pérez, ETH’s surge will be led by the ongoing accumulation of ETH tokens by Digital Asset Treasury (DAT) companies.
