Bloomberg Intelligence analyst Jamie Coutts is making bold predictions about the future of blockchain technology. Coutts asserts that if the current rate of adoption continues, there could be upto a staggering 100 million daily users by 2028. It will set the stage for a massive revolution in the financial world.
Daily Active Addresses Surge
Coutts highlighted the rise of blockchain adoption in his latest tweet. He emphasized that this growth has remained “unabated” even in the face of volatile market conditions.
Not having exposure to one of the largest structural trends of the next decade could be costly
The data supports Coutts’ optimism because daily active addresses surpassed 5 million in the third quarter of 2023. It marks a remarkable 14% increase from the previous year.
Quarterly growth rates have been consistent at 29% since 2019. Coutts suggests that even if we are more conservative, say like 20% quarter-on-quarter growth rate, we could still reach the impressive milestone of 100 million daily users by 2028.
Blockchain catching up to payments giants
Coutts compared the financial technology behemoth PayPal to put the pace of blockchain adoption in perspective. It took PayPal 13 years to achieve 100 million daily users. Blockchain technology has the potential to match, given its evolution since Ethereum’s inception in 2015.
Rising valuations on the horizon
Coutts points out that based on basic regressions, the blockchain sectors valuation could swell to a staggering $5 trillion to $14 trillion once 100 million users come on board. This is a big leap from its current valuation of $350 billion. This promises significant returns for early investors as well.
Consistent interest in Blockchain
Coutts’ projections further align with existing data that suggests enduring interest in blockchain technology. The crypto industry saw a 5% rise in development in 2022.
Institutional players have also been displaying a keen interest in tokenized assets. A 2022 survey by Celent revealed that 91% of them are exploring investments in blockchain-based tokens. They are interested in those tokens which represent ownership of physical assets.
The interplay of users and prices
Coutts wraps up his analysis by emphasizing the spiralled relationship between users and prices of digital assets in the blockchain scene. Prices are expected to soar for certain assets as adoption continues. It highlights the immense potential that lies within this blockchain’s future.
Blockchain technology’s trajectory is nothing short of phenomenal. Jamie Coutts’ projections indicate that a revolution in the financial world is imminent.
The blockchain ecosystem’s valuation is set to skyrocket with daily users on the cusp of reaching 100 million by 2028. It is going to be one of the most significant trends of the decade.
