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L2 solutions built on Ethereum are expected to generate $48.7 million in annual revenue over the next six years. By that time, the industry will feature thousands of Layer 2 networks tailored for specific applications.
Analysts from investment firm Van Eck have released a projection regarding the growth of the Ethereum L2 solutions sector through 2023. The authors assert that L2 protocols address the primary challenge encountered by the Ethereum blockchain network, which is scalability.
In the next six years, Ethereum is anticipated to capture 60% of the market share in the public blockchain networks arena. By that time, the market capitalization of the Ethereum L2 solutions sector is expected to surpass $1 trillion, with total annual revenue reaching $48.7 million.
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The analysts suggest that the Layer 2 solutions sector will eventually encompass several major general-purpose L2 protocols alongside thousands of networks categorized by sector, applications, and functions that require enhanced bandwidth, or that are designed for specific use cases within a single dApp.
The analysts highlight that increased competition is likely in the sector, leading to a less favorable long-term market outlook for most native tokens associated with L2 projects. As of April 4, 2024, the total capitalization of the sector stands at $33.2 billion, according to CoinGecko, with the total value locked (TVL) in L2 networks exceeding $39.3 billion, as reported by L2BEAT.
Van Eck experts indicate that the Dencun upgrade will play a crucial role in the advancement of L2 networks by significantly lowering their transaction costs. Furthermore, analysts foresee a shift of most L2 protocols towards zero-knowledge proof (ZKP) due to its various benefits.
Сообщение Ethereum L2 Solutions Cap Exceeds $1 Trillion by 2030 появились сначала на CoinsPaid Media.
