Token Terminal, a blockchain analytics platform, predicts Ethereum (ETH), the world’s second most valuable cryptocurrency, can soar above $36,800 by the decade’s end based on total addressable market projects.
In an in-depth analysis covering Ethereum on November 23, the analytics platform laid out several reasons that will drive the coin to astronomical levels, nearly 18X from spot levels.
Ethereum Is King, Predicted To Process $14 Trillion In Value By 2030
The Token Terminal report cited strengthening network effects, increasing token scarcity, and successful transition to proof-of-stake (PoS) consensus as possible price drivers accelerating the rally towards $36,800. The first-mover advantage and network effects, among others, have given Ethereum a competitive advantage over rival smart contract platforms, including Solana (SOL) and Cardano (ADA).
Users can deploy decentralized finance (DeFi) solutions in these competing networks, mint non-fungible tokens (NFTs), and overly participate in web3 development. Even so, Token Terminal observes that despite Ethereum’s limited scalability and fluctuating gas fees, which tend to rise in trending markets and intense network activity, discouraging engagement, it stands to dominate in the years ahead.
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