Impact of Blockchain Applications and Market Growth

The report foresees a rising demand for blockchain applications, particularly in finance, social networking, infrastructure, and artificial intelligence. VanEck estimates the total addressable market based on annual revenues at $15 trillion. Ethereum already surpasses many major Web2 brands in terms of revenue and user base, offering unique value propositions unavailable outside the cryptocurrency ecosystem. For businesses, Ethereum's blockchain presents an attractive option due to significant cost savings and a robust application ecosystem.

The network effects of Ethereum’s platform far exceed those of current social networking platforms. Long-term benefits are expected as consumers and app developers migrate to Ethereum, drawn by its lower costs and higher value compared to existing solutions. VanEck also notes that Ethereum could play a crucial role in AI development, serving as a backend infrastructure for AI applications.