Ethereum ‘likely to capture a portion of the $123 trillion global money supply’

ambcrypto.com:

Despite the fact that a bear market might be taking over, fund managers remain hopeful about the crypto-space in the long-term. In fact, the most recent report by Cathie Woods’ ARK Investments has claimed that both Bitcoin and Ethereum have trillion-dollar futures lying ahead, owing to their continued growth in utility.

To enlighten investors on the impact of breakthrough technologies we began publishing Big Ideas in 2017. This annual research report seeks to highlight our most provocative research conclusions for the year. Download! https://t.co/QvUbuqVpIL

— ARK Invest (@ARKInvest) January 26, 2022

The report boldly predicted that the market capitalization of Ethereum could cross $20 trillion dollars within the next 10 years. This could push up Ether’s price to around $170,000 to $180,000, despite the fact that it is currently sitting at $2,410 after losing 22.2% of its value over the past week.

As for Bitcoin, the report predicted that the king coin is “likely to scale as nation-states adopt (it) as legal tender,” adding that “the price of one Bitcoin could exceed $1 million by 2030.”

Ark Invest based its bullish outlook for Ethereum on its rapid growth in both utility and user base, boosted by the emergence of niche sectors such as non-fungible tokens (NFT). However, the most appealing sector has been that of decentralized finance (DeFi), which ARK described as,

“Decentralized Finance promises more interoperability, transparency, and financial services while minimizing intermediary fees and counterparty risk.”

The report further noted that smart contracts and decentralized apps (DApps) on Ethereum are “usurping traditional financial functions at the margin.”