Analyst’s Projections Point to 100 Million Users on Blockchains by 2028
In the ever-evolving landscape of cryptocurrencies, industry analyst Jamie Coutts foresees a remarkable surge in a specific sector over the next five years.
Coutts emphasizes the potential for smart contract blockchains such as Ethereum (ETH) and Solana (SOL) to witness explosive growth, hinting at a projection of a staggering 100 million daily users by 2028, with a projected growth rate of 20% each quarter.
Presently, the user base for smart contract blockchains has surpassed five million, attributing this surge to a consistent quarterly growth rate of 29% since 2019. The envisaged leap from five million to 100 million users indicates a monumental 20-fold expansion.
Drawing parallels to the trajectory of the online payment behemoth PayPal, which took 13 years to reach 100 million daily users and now claims over 400 million users, Coutts hints at a similar timeline for blockchain to attain a comparable level of acceptance, particularly marking Ethereum’s emergence in 2015 as a starting point for smart contracts.
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Coutts also speculates on the market implications, indicating that a 20% quarterly growth could potentially elevate the entire market capitalization of smart contracts from its current standing of roughly $350 billion to a range between $5 trillion and $14 trillion upon reaching 100 million users – an astronomical increase spanning between 1,328% and 3,900%.
Nonetheless, Coutts advises against placing sole reliance on such simplistic projections for valuation purposes, stressing the interconnectedness between user growth and asset prices. He suggests that as adoption intensifies, certain asset prices are likely to experience a significant upsurge.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
