ETH To Hit $20 Trillion Market Cap!

ETH To Hit $20 Trillion Market Cap!

A new report by ARK Invest predicts that Ether's market cap will hit $20 trillion and Bitcoin's price will surpass $1 million by 2030, based on BTC use cases and how ETH is taking market share from TradFi.

A new report by ARK Invest by Cathy Woods predicts that Ethereum (ETH) will reach or even exceed a market cap of $20 trillion in the next 10 years, which would equate to a price of around $170,000-$180,000 per ETH . 

Accept (it) as legal tender… the price of a bitcoin could top $1 million by 2030 ARK Invest is an American technology-focused asset management firm headquartered in the United States with $12.43 billion in assets under management.

The prediction in the ARK Invest Big Ideas 2022 report is based on how quickly the Ethereum network has grown in utility and efficiency much of the growth over the past two years has come from decentralized finance (DeFi).

ARK outlined the appeal of DeFi, stating, “Decentralized finance allows for greater interoperability, transparency, and financial services while minimizing brokerage fees and counterparty risk according to ARK, smart contracts and decentralized applications (DApps) on Ethereum “occupy traditional finance functions on the fringes.” 

The report highlighted that banking and lending, exchanges, brokerages, asset management, insurance, and derivatives can all be found on Ethereumbased smart contracts.

What’s more, DeFi is a lot more efficient too.ARK estimated that DeFi outperformed traditional finance over the last twelve months in terms of revenue per employee $88 million to $8 million.

In terms of Bitcoin, the report forecasts $1.36 million per BTC with a market cap of $28.5 trillion by 2030 ARK r
esearchers assigned an estimated future value to eight of Bitcoin’s use cases, and used the sum of all of them to reach their conclusion about BTC price.

By 2030, the firm expects Bitcoin to account for 50% of global remittances at 1.5x velocity, 10% of emerging markets’ currency, 25% of US bank settlement volumes, 1% of nationstate treasuries worldwide, 5% of global high Net.

Worth individual (HNWI) wealth, 2.55% of institutional asset base, 5% of the cash from SandP 500 companies, and 50% of gold’s total market cap.ARK also argated that Bitcoins mining "energy production could revolution"

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