VanEck’s prediction is not based on imagination, but calculated through hypothetical analysis. VanEck states that it expects future cash flows based on a terminal multiple of L2’s free cash flow (FCF) at 25 times and assumes that L2 will hold a 60% market share in the Ethereum smart contract ecosystem. Considering the current market value of L2 at 33.3 billion US dollars, this would represent significant growth.
"VanEck, ETF Issuer, Forecasts Ethereum L2 to Reach $1 Trillion Market Cap by 2030: Who Will Be the Victors?"