Crypto trader Lark Davis believes that the value of Ethereum (ETH) could rise more than 6 times its current price, and the market capitalization of the leading smart contract platform will rise to trillions of dollars.
Davis argues that achieving ETH’s market capitalization like tech giant Apple is not entirely far-fetched given the rise of the decentralized finance (DeFi) and non-fungible token (NFT) subsectors, which rely heavily on the Ethereum network.
I would say that Ethereum’s $ 2 trillion future market cap is not such a crazy idea. I mean, Apple’s market cap is now just over $ 2 trillion, almost $ 2.1 trillion. Ethereum, which is now the settlement layer of the crypto universe with NFT and DeFi and daily settlements for payments, can achieve something similar.
At CoinMarketCap prices, Ethereum’s $ 2 trillion market cap represents an increase of almost 550% from the current $ 300 billion valuation.
The project has enormous potential for exponential growth, this must be borne in mind. We’ve also seen how the volume of decentralized exchanges has skyrocketed by 8,500% over the past 12 months, so the real Ethereum economy could grow like crazy as well.
Davis is optimistic about the attention Ethereum is receiving from institutional investors and big players in the investment space, including Ark Invest’s Katy Wood.
For the first time at Ark Invest, Katy Wood bought Ethereum. They purchased 639,000 shares of the Ethereum Trust Grayscale. It is very cool. This means that Ark Invest is exploring Ethereum more and more. They understood what Etheruem’s value proposition was. And it is they who put their money there, having a direct impact on the asset class. This is a big deal because a lot of people are paying attention to what Katie Wood is buying Ark Invest.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
