The Ethereum ecosystem is exploding with users! Daily active users have surged nearly nine times in just four years, according to data from crypto ETF issuer Bitwise. This massive growth is fueling optimism for the future of Ethereum, with investment giant VanEck raising its price target for the cryptocurrency to a staggering $22,000 by 2030.
Key Points:
Ethereum's daily active users have skyrocketed from 250,000 in Q1 2020 to a whopping 2.25 million in Q1 2024.
The growth is driven by the rise of layer-2 scaling solutions like Polygon and Arbitrum, which take the burden off the Ethereum mainnet.
Despite a smaller share of daily users on the mainnet itself, Ethereum co-founder Vitalik Buterin sees L2s as crucial for scaling the network.
VanEck predicts a bright future for Ethereum, citing its strong revenue per user and potential for wider adoption by traditional finance and Big Tech.
The anticipated approval of spot Ether ETFs could further propel the price of Ethereum towards new highs.
Ethereum's user base is expanding at an incredible pace, and the innovation of layer-2 solutions is paving the way for a more scalable future. With bullish predictions from industry leaders like VanEck, Ethereum appears well-positioned for significant growth in the coming years.
Short Description: Ethereum user numbers have exploded nearly 9X since 2020, fueling a bullish price prediction of $22,000 by 2030 from VanEck. Discover the key drivers behind Ethereum's growth and what the future holds for the leading smart contract platform.
Source: Cointelegraph
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