VanEck Predicts Ethereum to Surge to $22,000 by 2030
According to data compiled by crypto ETF issuer Bitwise, Ethereum (ETH) and its expansion solutions, Arbitrum and Polygon, had over 250,000 daily active users in the first quarter of 2020. The majority of these users were on Ethereum’s main Layer 1 network.
By the first quarter of 2024, the daily active user count, now including second-layer networks like Optimism, Base, and zkSync launched later, reached approximately 2.25 million—nearly nine times the previous figure. As transactions shift to these Layer 2 networks, Ethereum’s proportion of daily active users has significantly decreased.
On June 4, Ethereum’s mainnet had 378,000 active users, Polygon had 1.3 million, and the other four Layer 2 networks combined had around 1.5 million active users.
Optimism was launched at the end of 2021, while zkSync and Base became publicly accessible in 2023.
Although Ethereum’s user numbers may seem modest, they are part of a strategic roadmap. Ethereum co-founder Vitalik Buterin focuses on utilizing Layer 2 solutions to scale the main blockchain.
VanEck’s Bold Prediction for Ethereum
Meanwhile, crypto ETF issuer VanEck has raised its price target for Ethereum, predicting that ETH will reach $22,000 by 2030.
In a blog post on June 5 by VanEck’s Head of Digital Asset Research, Matthew Sigel, and his colleagues, analysts revised their 2030 forecast for Ethereum upwards from last year’s $11,800. They noted that Ethereum’s revenue per user surpasses that of most Web2 companies and anticipates growing popularity among traditional financial market participants and big tech companies.
Key Insights
- Growth of Layer 2 Networks: The exponential increase in daily active users across Ethereum’s Layer 1 and various Layer 2 solutions indicates a significant adoption and scalability improvement.
- Strategic Roadmap: Vitalik Buterin’s emphasis on Layer 2 solutions aligns with Ethereum’s long-term vision to enhance scalability and reduce congestion on the main network.
- VanEck’s Price Target: The prediction by VanEck highlights a strong bullish sentiment for Ethereum’s future, driven by its high revenue per user and increasing adoption by major financial and tech entities.
Ethereum’s ecosystem is expanding rapidly with a robust increase in daily active users and the adoption of Layer 2 solutions. VanEck’s optimistic forecast of ETH reaching $22,000 by 2030 reflects confidence in Ethereum’s scalability and its potential to dominate both the crypto and traditional financial markets. As Ethereum continues to develop and attract more users, its long-term prospects look promising.
