Transcending Bitcoin to become the largest Cryptocurrency ecosystem, Ethereum has been the main topic of discussion in the past few years. According to a report by VanEck, the token may reach $50000 by 2030
Transcending Bitcoin to become the largest Cryptocurrency ecosystem, Ethereum has been the main topic of discussion in the past few years. According to a report by VanEck, the token may reach $50000 by 2030.
In the first six months of 2023, Ethereum (ETH) has increased by about 45%, which is considerable. On the other hand, Bitcoin (BTC) has gained as much as 57%.
VanEck's valuation method is based on many key components. The first part is the business model of Ethereum, mainly relying on transaction fees. The second part is the supply of Cryptocurrency of ETH, which has been falling over time and supporting the rise of Cryptocurrency price.
In addition, the third part is what VanEck calls a "broad market capture strategy". Essentially, this means that Ethereum (ETH) currently involves almost everything related to blockchain.
Can Ethereum really reach 50000 dollars?
Ethereum (ETH) is one of the blockchain projects with the largest development volume in the industry. This is a key indicator of future growth. Despite the emergence of competitive networks, none can occupy an important position like Ethereum. In addition, recent pressure from regulatory agencies has severely affected competitive networks, such as Solana (SOL), Cardano (ADA), and Polygon (MATIC).
All three were selected by the SEC in the lawsuit against Coinbase. However, some people say that Ethereum is not a security. This keeps ETH at a relatively safe distance from the recent chaos.
In addition, Ethereum still has much room for development. In terms of its existence, Ethereum (ETH) has many more use cases than TCN. Therefore, it may be adopted by more people in the coming years.
However, VanEck's prediction that Ethereum will reach US $50000 by 2030 does not look short-term. As of press time, the transaction price of Ethereum was about US $1750.
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