wrote a post08/02/2022 15:34

Cathie Wood: Ethereum Will Reach $20 Trillion Market Cap By 2030

Despite the latest drop across the board for cryptocurrencies to start 2022, $ARK Innovation ETF(ARKK.US)$ Ark Invest's Cathie Wood is looking towards the long term and sees $Ethereum(ETH.CC)$ reaching a $20 trillion market cap by the year 2030.
"As financial services move on-chain, decentralized networks are likely to take share from existing financial intermediaries," a report by Ark Invest says.
Ethereum's blockchain network forms the basis for other developers to create their own cryptocurrencies. Given that specific use case versus bitcoin's utility as a store of value, Ethereum has the potential to "displace many traditional financial services," according to Wood.

Another case for increasing Ethereum demand is a drop in fees. The second leading cryptocurrency's fees have fallen along with its price, giving more reason for users to transact with Ethereum.
$Bitcoin(BTC.CC)$$Nasdaq Composite Index(.IXIC.US)$$S&P 500 index(.SPX.US)$$Coinbase(COIN.US)$

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