Bloomberg Analyst Predicts Explosive Growth for Smart Contract Blockchains
An analyst at Bloomberg Intelligence, Jamie Coutts, believes that smart contract blockchains like Ethereum (ETH) and Solana (SOL) could see a massive surge in daily users over the next five years. Coutts predicts that these blockchains could reach 100 million daily users by 2028, growing at a rate of 20% quarter-on-quarter.
Coutts notes that the current number of daily users on smart contract blockchains is over five million, with a growth rate of 29% since 2019. This means that the user base has grown 20 times in that period. The analyst draws a parallel between the growth of smart contract blockchains and PayPal, stating that it took PayPal 13 years to reach 100 million daily users.
According to Coutts, if Ethereum was the beginning of smart contracts in 2015, it may take a similar timeframe for blockchains to achieve widespread adoption.
Coutts suggests that a 20% quarter-on-quarter growth rate could result in the total market cap of smart contract blockchains soaring from $350 billion to between $5 trillion and $14 trillion when the user count reaches 100 million. This represents an increase of 1,328% to 3,900%. However, Coutts cautions that these calculations should not be solely relied upon for valuation purposes.
Hot Take: Smart Contract Blockchains Poised for Massive Growth
Bloomberg Intelligence analyst Jamie Coutts predicts that smart contract blockchains, such as Ethereum and Solana, could experience explosive growth in the next five years. With a projected 20% quarter-on-quarter growth rate, these blockchains could reach 100 million daily users by 2028. Coutts draws a comparison to PayPal’s journey to 100 million users, suggesting that blockchains may follow a similar adoption timeline.
If this growth materializes, the total market cap of smart contract blockchains could surge from $350 billion to between $5 trillion and $14 trillion. However, Coutts emphasizes that these projections should not be solely relied upon for valuation purposes. Nevertheless, the potential for significant growth in this crypto sector is evident.
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