ETH to hit $20 trillion market cap by 2030???

ARK Invest is an American technology-focused asset management company with assetsami in the amount of 12.43 billion dollars, believes that yes

A new report from ARK Invest predicts thatethereum market cap to reach $20 trillion and bitcoin price to exceed $1 million by 2030 based on BTC use cases and how ETH is capturing market share from TradFi

In a new report from ARK Invest, Cathy WoodsEthereum (ETH) is predicted to reach or even exceed a $20 trillion market cap over the next 10 years, corresponding to a price of $170,000 to $180,000 per ETH.

The report also predicts largeprospects for Bitcoin, allegedly it is “likely to scale as nation-states accept (it) as legal tender… the price of one Bitcoin could exceed $1 million by 2030.”

The forecast is based on how quickly the Ethereum network has grown in utility and efficiency. Most of the growth over the past two years has come from decentralized finance

According to ARK, smart contracts anddecentralized applications (DApps) on Ethereum are “usurping traditional financial functions on margin.” The report highlights that banking and lending, exchanges, brokerage services, asset management, insurance and derivatives can be found in Ethereum-based smart contracts.

Moreover, DeFi is much more efficient. ARK estimates that DeFi has outperformed traditional finance over the past twelve months in terms of revenue per employee by between $88 million and $8 million.

For Bitcoin, the report predicts$1.36 million per BTC with a market cap of $28.5 trillion by 2030. ARK researchers estimated the estimated future value of eight Bitcoin use cases and used their sum to come to a conclusion about Bitcoin. price.

By 2030, the firm expects Bitcoin to beaccount for 50% of global remittances at 1.5x, 10% of emerging market currencies, 25% of US bank settlement volumes, 1% of government Treasuries worldwide, 5% of global high. net worth (HNWI), 2.55% institutional asset base, 5% cash from S&P 500 companies and 50% total gold market capitalization.

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