Ethereum's Millionaire-Making Days Are Behind It
Ethereum's millionaire-making days are behind it, according to Alex Carchidi of The Motley Fool. The cryptocurrency made many millionaires during its 2017 and 2021 bull markets, but those conditions won't repeat themselves.
Even a significant expansion in the market cap would not be enough to make a $10,000 Ethereum stake worth $1 million. A 100x gain is required for this, which would boost Ethereum's market cap to $29.2 trillion, an implausible target given the current crypto sector's market cap of $2.7 trillion.
However, there are still opportunities for growth. Tokenization, recording ownership of assets in crypto tokens, could be a significant trend. By 2030, McKinsey estimates that $2 trillion in tokenized assets will exist, with Ethereum hosting $17.3 billion of these assets as of mid-September.