Ethereum Layer 2 will target a market capitalization of $1 billion by 2030, according to Van Eck

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Ethereum Layer 2 scalability networks are forecast to reach a market capitalization of $1 billion by 2030, according to investment analysts Van Eck.

Market capitalization of $1 billion

Ethereum Layer 2 scalability networks are set to reach a market capitalization of $1 billion by 2030, according to investment analysts Van Eck. These networks are made up of thousands of usage-specific chains and are planned to capitalize on Ethereum’s main shortcoming: its limited ability to process, store and compute data.

Valuation of 60% of the market

Van Eck analysts reached their $1 billion prediction by estimating that Ethereum will take 60% of the market shared by all public blockchain platforms, and by estimating the volume of assets in the Ethereum ecosystem. There are currently 46 Ethereum Layer 2 networks with a total locked value of $39 billion, the largest being Arbitrum with $18 billion.

Intense competition

Ethereum is focusing on improving its ability to handle data from Layer 2 networks, as demonstrated by its latest Dencun update, which has reduced L2 transaction fees thanks to the specialized “Blobs” data backup feature. Van Eck’s analysts also noted the potential for additional revenues to be generated on Layer 2 networks compared with the core Ethereum platform.

Conclusion – The future of Ethereum Layer 2

Investment analysts Van Eck predict that Ethereum’s L2 networks will reach a market capitalization of $1 billion by 2030. These networks are capitalizing on Ethereum’s main flaw and are made up of thousands of use-specific chains, which could bring intense competition for L2 tokens.

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