- Ark Invest said the crypto market would be worth $20 trillion in the next ten years.
- Despite FTX collapse, DeFi trading volume relative to crypto trading volume grew by 52%.
- Goldman Sachs ranked BTC above US Treasury, Gold, and 22 other assets.
According to Ark Invest, a global asset management firm specializing in disruptive innovation, the crypto and smart contacts could respectively command over $20 trillion and $5 trillion in market value in the next ten years.
The firm made this assertion in its annual report called ‘Big Ideas 2023,’ published yesterday, January 31, 2023. Ark writes:
As the value of tokenized financial assets grows on-chain, decentralized applications and the smart contract networks that power them could generate $450 billion in annual revenue and reach $5.3 trillion in market value by 2030.
The firm argued that while the crypto market hits $20 trillion, gold would only be about $12 trillion. And on the other hand, global real estate would be worth over $250 trillion.
Ark Invest also revealed that DeFi trading volume had grown twelve times since 2020 to date. It added that despite the FTX collapse, DeFi trading volume relative to crypto trading volume increased by 52%.
According to Ark Invest’s data, five million unique IDs were issued across the Ethereum Name Service and Unstoppable Domains. While NFT trading volume increased by 15% to $22 billion in 2022, there were 127 million cumulative NFT creations.
Recently, Goldman Sachs, one of the most prominent financial institutions in the United States, said Bitcoin (BTC) was the best-performing asset in the world. Goldman Sachs ranked Bitcoin above gold, real estate, 10-year US Treasury, energy, Nasdaq 100, and twenty other investment instruments. Notably, Goldman Sachs added Bitcoin to its ranking of assets barely two years ago.
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Source: https://coinedition.com/art-invest-crypto-and-smart-contracts-market-could-hit-20-trillion/