According to Jamie Coutts, a blockchain analyst at Bloomberg Intelligence, adoption of blockchain technology has been “unabated” through both bull and bear markets over recent years.
In a tweet, Coutts said blockchain could reach 100 million daily users by 2028 if current growth rates persist. He cited Q3 2022’s 5+ million daily active addresses, a 14% jump year-over-year, as evidence.
Coutts compared blockchain’s adoption pace to PayPal’s growth, which took 13 years to hit 100 million users. He said valuations of the blockchain ecosystem could reach $5-14 trillion at 100 million users, up from $350 billion today.
The projections align with data showing sustained interest in blockchain despite market declines. A 2022 survey found 91% of institutional investors want exposure to tokenized assets.
While simple projections have limits, Coutts said they illustrate the link between users and asset prices. As adoption advances, prices will likely grow substantially for some crypto assets.
According to the Bloomberg analyst, not having exposure to blockchain’s structural growth this decade could prove costly. His analysis highlights why many remain bullish on blockchain’s long-term proliferation.
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