Prediction of the Week
ETH to hit $20-trillion market cap by 2030: Ark Invest
Cathie Wood’s Ark Invest bullishly predicted that Ether could reach a total market cap of around $20 trillion within the next 10 years, suggesting an average ETH price of between $170,000 and $180,000.
The optimistic prediction came via Ark’s “Big Ideas 2022” report, with the firm highlighting the Ethereum network’s rapid rate of adoption and growth in utility and efficiency over the past couple of years as key indicators for future price targets.
According to Ark, smart contracts and decentralized applications on Ethereum are “usurping traditional financial functions at the margin.” The report highlighted that banking and lending, exchanges, brokerages, asset management, insurance and derivatives can all be found on Ethereum-based smart contracts.
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