Catherine Woods, CEO of asset management firm Ark Invest, believes that Ether, the second largest crypto on the market behind Bitcoin, will reach a capitalization of $20 trillion in the next 10 years.
Based on this forecast, the price of the cryptocurrency should be between $170,000 and $180,000 per ETH.
According to the report, titled "Big Ideas 2022" and shared by the company, Bitcoin is "likely to scale as nation-states adopt it as legal tender… the price of one Bitcoin could exceed $1 million by 2030."
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The prediction is based on how quickly Ethereum's network utility and efficiency is growing, in part thanks to the boom in decentralized finance (DeFi).
According to the company:
"Decentralized finance promises more interoperability, transparency, and financial services while minimizing intermediary fees and counterparty risk."
According to Ark, banking and lending, exchanges, brokerage firms, asset management, insurance and derivatives can be found on Ethereum-based smart contracts.