VanEck, the prominent entity devoted to managing a $69B ETF, has recently published a prediction about ETH. As per the platform, the well-known crypto will potentially reach a value of up to $11,800 by the year 2030. In addition to this, the company has also asserted that the respective crypto token will eventually become the US Treasury bonds’ competitor.
VanEck Says 2030 Will See ETH Reaching $11,800 Spot
In an official report published by the company, it has made the respective prediction in line with the fully diluted valuation (FDV) calculations as well as the projections about the cash flow. The report was compiled by the top executives including Patrick Bush (the senior investment analyst of digital assets) and Matthew Sigel (the head of digital assets research).
As per the executives, the revenues of the ETH network will likely increase in the next years. At present, the yearly rate of the respective revenues is placed at $2.6B. On the other hand, the prediction brings to the front that the respective rate will witness a great increase to reach a valuation of nearly $51B by 2030. According to the report, the platform assumes that the market share of ETH will see a 70% rise among the protocols related to smart contracts.
In this way, it is implied that the token’s price will touch the figure of up to $11.8k by the above-mentioned year. Moreover, the platform added that an additionally refined valuation model has been applied by it for the respective analysis. In the words of the company, the recent developments have been beneficial for the platform in this respect.
VanEck, in its report, brought to the front that the recent hard fork implemented by Ethereum permits consumers to withdraw their staked ETH tokens. The respective development can play a significant role in increasing the valuation thereof. Additionally, the network will also be effective in attracting an additional user base due to such endeavours.
CEO Says Spot BTC ETFs Do Not Stand a Chance in the US
While elaborating on the analysis, the company specified that it examined the data and statistics of the year that concluded on the 30th of the previous month. Based on the respective analysis, VanEck predicted the results. A few days back, Jan van Eck (the CEO of the platform) commented on the place of a spot BTC ETF within the US jurisdiction. He is of the view that there is no chance for that. A possible reason behind this is the rejections by the SEC for such ETFs.
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