Crypto Analyst Foresees 3900% Boom In Smart Contract Market

On Friday, Bloomberg crypto analyst Jamie Coutts projected a potential explosion in the market cap of smart contract cryptocurrencies.

What Happened: Coutts said that the smart contract blockchain sector, led by Ethereum ETH/USD and Solana SOL/USD, could increase by 3,900% within the next five years.

In a post on X, Coutts mentioned that, currently, the daily user base for smart contract platforms stands at over 5 million, with a robust growth rate of 29% per quarter since 2019.

Should this expansion continue, Coutts anticipates a user increase to 100 million by 2028, a twentyfold surge.

Comparing the trajectory to that of PayPal, which serves over 400 million users, Coutts suggested that smart contract blockchains could mirror this growth pattern if one were to consider Ethereum's inception in 2015 as the starting point.

Also Read: Ethereum At A Crossroads: Vitalik Buterin Points To Three Make-Or-Break Transitions

With a steady quarterly growth of 20%, Coutts estimates that the total market valuation of the smart contract ecosystem could leap from the current $350 billion to a staggering $5 trillion to $14 trillion. This would coincide with the user base's expansion to 100 million users.

Coutts also underscored the connection between user adoption and asset pricing. As the sector continues to attract users, he said he foresees a substantial price uptick for certain cryptocurrencies within this domain.

At the time of writing, Ethereum was trading at $1,895.36, up 8 percent in the last seven days. Solana was trading at $41.73, up by close to 30 percent in the last seven days. 

Now Read: Crypto Expert Warns Of $440 Billion Wipeout, Shares Concerning Prediction About Bitcoin

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