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Blockchain adoption continues unabated — Bloomberg analyst

Should the current rate of adoption continue, blockchain technology could have 100 million daily users by 2028, according to projections by Bloomberg Intelligence analyst Jamie Coutts.

Coutts pointed out that blockchain adoption has been “unabated” throughout bull and bear markets over the past years.

Daily active addresses exceeded 5 million in the third quarter of 2023, up 14% from 2022, according to Coutts.

If a more moderate 20% quarter-on-quarter growth rate is applied, then 100 million daily users may be achieved by 2028.

Coutts compared blockchain adoption rate with PayPal’s growth rate, noting that it took PayPal 13 years to reach 100 million users.

Based on basic regressions, the blockchain ecosystem could be valued between $5 trillion to $14 trillion once 100 million users are onboard.

Coutts’ projections align with data showing sustained interest in blockchain technology.

Despite the market downturn, development in the crypto industry rose 5% in 2022.

A survey conducted by Celent in 2022 showed that 91% of institutional investors are interested in investing in tokenized assets.

Coutts predicts that as blockchain adoption continues, prices are likely to track much higher for certain assets.

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