The cryptocurrency market is increasing institutional adoption. Many giant companies are stepping into the Blockchain world. Bloomberg Intelligence analyst Jamie Coutts predicts explosive growth for these altcoins over the next 5 years.
Smart contract blockchains could follow PayPal
Jamie Coutts predicts that smart contract blockchains like Ethereum and Solana will grow 20% quarterly. Thus, he says that it can reach 100 million daily users by 2028. According to Coutts, the number of daily users of smart contract blockchains has seen a 29% quarter-on-quarter growth since 2019. As a result of this rate, it is now over five million. Increasing the user base from five million to 100 million corresponds to a 20-fold growth.
The growth of smart contract blockchains will likely mirror the growth of online payment giant PayPal, says a Bloomberg Intelligence analyst. In this context, the analyst shares the following assessment for these altcoins:
It took PayPal 13 years to reach 100 million daily users. It currently has more than 400 million users, but growth has slowed. If Ethereum is day zero for smart contracts (2015), Blockchains may take a similar time frame to reach a similar level of adoption.
It means explosive growth for altcoins in this space!
According to Jamie Coutts, a 20% quarter-to-quarter growth rate could cause the total market value of the smart contracts ecosystem to rise from around $350 billion currently to $5 trillion to $14 trillion once the number of users increases to 100 million. This means an increase of between 1,328% and 3,900% for altcoins in this space. The analyst expresses his views on this issue as follows:
Oversimplified estimates such as these should never be relied upon for valuation purposes. However, this practice shows that users and prices are inextricably linked, and as adoption continues, prices could trend much higher for some altcoins.
Top 5 smart contract cryptocurrencies
A valuable part of fundamental analysis of the cryptocurrency market is to follow the live development activity of the project. Think of it as the opportunity to sit in the R&D room of companies you want to buy stock in. This is possible because most projects are built as open source software. This means their development is public information that can be tracked and used in conjunction with other data, such as market value, for unique insights. The largest platform for open source development is GitHub. In this regard, developer Lukas Masuch has collected the results in a GitHub repository for altcoins. According to Masuch’s index, the five best are as follows.
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