A new report from ARK Invest has forecasted that Ethereum will be meeting or even exceeding a market cap of $20 trillion within the next 10 years. This would equate to a price of around $170,000 to $180,000 per token. The report from Cathy Woods’ has also predicted big things in store for Bitcoin, stating that it is very likely to scale as nation-states would be adopting it as legal tender- the price of one bitcoin could definitely exceed a sum of $1 million by 2030.
Good things in Store For Ethereum- As ARK Invest mentions
The prediction in Big Ideas, the report of ARK Invest has predicted how quickly the network of Ethereum would be growing in efficiency and utility. Much of the growth over the last couple of years does come from the sector of decentralized finance. ARK has also described the appeal of DeFi, stating that Decentralized Finance does promise a much larger scope for interoperability, transparency, and financial services while minimizing the risk to the counterparty.
As stated by ARK, most of the smart contracts and decentralized apps on Ethereum are usurping most traditional financial functions at the margin. The report went on to highlight that banking and lending, exchanges, brokerages, insurance, asset management, and derivatives will all be found on the smart contracts of ETH. Also, DeFi is a lot more efficient as well. ARK has gone around and estimated that DeFi does outperform traditional finance over the last twelve months in terms of revenue per employee.
Along with its comments on Ethereum, ARK has also posited that the mining of Bitcoin could definitely revolutionize the production of energy. While global concerns have been raised about the large amounts of energy that the mining of Bitcoin requires, the researchers believe that the mining of Bitcoin will encourage as well as generate more electricity from renewable carbon-free sources.