VanEck predicts Ethereum Layer 2 tokens will reach $1 trillion valuation by 2030
VanEck calculated its $1 trillion base case valuation for Layer 2s by applying a free cash flow multiple of 25 to its expectations of future cash flows, assuming an Ethereum ecosystem smart contract market share of 60%. VanEck estimated the cash flows by projecting transaction revenues (inclusions of transactions on a blockchain) and maximal extractable value (revenue derived from the ordering of transactions) for the Layer 2 networks’ anticipated total addressable market.
