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Crypto News Today – Unveiling the Astonishing Growth of ETH Ecosystem Users: 9X Surge Since 2020

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Crypto News Today - Unveiling the Astonishing Growth of ETH Ecosystem Users: 9X Surge Since 2020

Crypto News Today – VanEck’s $22K Prediction by 2030: What Are the Implications of the Rapid Growth in ETH Ecosystem Users?

Crypto News Today – Analysts predict that Ether will reach new heights due to the growing demand, since there are nearly nine times as many daily active users in the Ethereum ecosystem as there were just four years ago. In Q1 2020, there were an average of over 250,000 daily active users of Ethereum and its scaling solutions, Polygon and Arbitrum, according to statistics compiled from cryptocurrency ETF issuer Bitwise. The majority of these users came from the Ethereum layer-1 mainnet.

Crypto News Today - VanEck's $22K Prediction by 2030: What Are the Implications of the Rapid Growth in ETH Ecosystem Users?
Crypto News Today - Unveiling the Astonishing Growth of ETH Ecosystem Users: 9X Surge Since 2020 1

This daily user count reached 2.25 million as of the first quarter of 2024, about nine times higher. This number now includes the newly launched layer-2 networks Optimism, Base, and zkSync.

VanEck Increases Price Predictions For Ether

The issuer of cryptocurrency exchange-traded funds, VanEck, increased its price goal for Ethereum, projecting that it will reach $22,000 by 2030. The head of digital assets research at VanEck, Matthew Sigel, along with two colleagues, posted a blog on June 5th. In it, the analysts raised their 2030 expectations for Ether, which was only $11,800 last year. They noted that Ether’s revenue per user is higher than most Web2 businesses and that it is expected to gain popularity among Big Tech and traditional financial market participants.

We anticipate that spot ether ETFs are nearing approval to trade on U.S. stock exchanges. This development would allow financial advisors and institutional investors to hold this unique asset […] and benefit from the pricing and liquidity advantages characteristic of ETFs. We project ETH’s 2030 valuation based upon a forecast of $66B in free cashflows generated by Ethereum and accruing to the ETH token,

the analysts

FAQ

What Does Daily Active Users Mean?

The total number of people who open and utilize a mobile app or web product in a given day is referred to as Daily Active Users, or “DAU.” Numerous elements are revealed by your DAU number. It is capable of calculating a product’s growth rate.

How High Will Ethereum Go in 5 Years?

With a minimum of $4,500 and an average of $5,500, Ethereum is predicted to reach a maximum level of $6,500 by 2025. It is anticipated to increase to a maximum of $20,500 by the year 2030. The Dencun upgrade is expected to occur this year, which will raise the value of ETH.

For more up-to-date crypto news, you can follow Crypto Data Space.

Crypto News Today - Unveiling the Astonishing Growth of ETH Ecosystem Users: 9X Surge Since 2020
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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