Ethereum layer 2s to hit $1T market cap by 2030: Van Eck

Van Eck’s analysts were bearish on L2 tokens due to competition, but envisioned a future with thousands of use-specific chains.

Ethereum’s layer 2 scaling networks will hit a $1 trillion market capitalization in six years and will be made up of thousands of use case-specific chains, according to analysts from investment manager Van Eck.

Layer-2 blockchains are set to capitalize on Ethereum’s “primary challenge” — its “limited capacity to process, store, and compute data,” Van Eck’s senior digital assets investment analyst Patrick Bush and digital assets research head Matthew Sigel said in an April 3 report.

Busha and Sigel reached their $1 trillion market cap prediction by estimating Ethereum would take up 60% of the market share across all public blockchains and then estimating the volume of assets within the Ethereum ecosystem.

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