Ethereum To $36,800? Token Terminal Predicts When This Will Happen
25 November 2023 - 6:00AM
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Blockchain analytics platform Token Terminal has provided insight
into the future trajectory of the second largest cryptocurrency by
market cap, Ethereum (ETH). Interestingly, they predict that the
crypto token could rise as high as $36,800. When Ethereum Will Hit
$36,800 In the research paper released by the platform, Ethereum is
billed to hit the $36,800 mark by 2030. However, this prediction is
made in the best-case scenario of 2030 being a bull market season.
One of the ways in which they analyzed ETH’s future value was with
the total Addressable Market analysis. Related Reading: Shiba
Inu Community Project Calls Out Founders For Refusing To Burn 103
Trillion SHIB They looked at the industries already adopting
blockchains while forecasting how much of them will move on-chain
by 2030. In line with this, they considered the role Ethereum could
play in this in terms of tokenization. Token Terminal believes that
all assets could be tokenized on the network, playing an integral
role in the finance industry. The finance industry apparently
does over $28 trillion in annual revenues at the moment and is
growing at a compound annual rate of 7.5%. With this in mind, Token
Terminal foresees that the finance industry and Ethereum could form
a mutually beneficial relationship. For one, a majority of the
liquidity in the industry could become consolidated on the Ethereum
network. Source: Token Terminal Alongside the
prediction of $36,800 in 2030, the blockchain analytics platform
projects that Ethereum could also enjoy an 80% market share among
Layer 1 networks. The network could reach a monthly revenue of
$109,668 in the best-case scenario (dependent on 2030 being a bull
year). Ethereum’s Price In The Next Bull Cycle Meanwhile, Token
Terminal also gave an insight into what Ethereum’s price could look
like in the next bull run. According to the platform, the crypto
token could rise to as high as $13,000 at the peak of the bull
market. From their projection, the Bitcoin Halving is seen as a
catalyst that could spark the next cycle. Related Reading:
Analyst Says Ethereum Is Seeing ‘Systemic Buying’, What This Means
Source: Token Terminal The next Bitcoin Halving is expected to take
place on April 4, 2024. Based on Token Terminal’s analysis,
Ethereum’s price could rise to $2,300 by then. From that moment,
ETH is projected to see an increase of over 469% as it surges to
over $13,000 at the peak of the next bull cycle. The future
of Ethereum looks really promising based on these forecasts. Above
all, Token Terminal expects the network to continue to dominate its
competitors in terms of the economic opportunity on it. They
predict that new use cases on Ethereum will spur it to “grow
exponentially larger” in the coming years. ETH price reclaims
$2,100 | Source: ETHUSD on Tradingview.com Featured image from The
Conversation, chart from Tradingview.com
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