Updated Ethereum Price Predictions by Standard Chartered
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Standard Chartered Raises Ethereum Target to $25,000 by 2028
In a significant revision, analysts at Standard Chartered have adjusted their long-term Ethereum target from $7,500 to a staggering $25,000 by the end of 2028. This update follows a noticeable resurgence in the altcoin’s value, reflecting its strong market presence and the network’s status as the leading layer-1 blockchain.
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According to a report by Reuters, Standard Chartered has also increased its year-end target from $4,000 to $7,500. The bank’s analysts have observed a marked increase in industry engagement and ETH holdings, which has fueled their bullish outlook.
Ethereum’s Market Surge and Future Prospects
Over the past three months, Ethereum has experienced a remarkable 81% increase, reaching a new yearly high of approximately $4,700. This growth brings it closer to its all-time high of $4,891, achieved in 2021. The analysts at Standard Chartered believe that Ethereum’s market dominance, particularly in processing stablecoin transactions, will significantly enhance ETH’s price trajectory.
Geoff Kendrick, the head of digital assets research at the firm, predicts an eightfold growth in the stablecoin sector by 2028, which will directly impact Ethereum network fees. Consequently, the demand for ETH is anticipated to rise sharply as stablecoin usage on the network expands.
Kendrick emphasizes that the long-term growth of ETH hinges on its use for high-value transactions on its layer-1 blockchain, especially those related to traditional finance. He suggests that increasing the network’s capacity could substantially support this growth.
Industry experts, including Tom Lee from BitMine, have already identified Ethereum as the preferred network amid the growing tokenization trend. Lee points out Ethereum’s legal clarity and uninterrupted service history as key advantages over its competitors.
Potential ETH Holdings by Treasury Companies
The analysts also highlight the potential for Ethereum treasury companies to control 10% of the total ETH supply. These companies are expected to create significant demand for Ethereum, potentially driving prices higher. For instance, BitMine, the largest ETH treasury firm, has expressed plans to hold 5% of the total supply.
BitMine recently filed for a $20 billion stock offering, intending to use the proceeds to enhance its Ethereum strategy. Other companies, such as SharpLink Gaming and Ether Machine, are actively raising funds to acquire more ETH. Matt Hougan, CIO of Bitwise, has recently indicated that a supply shock could be imminent for Ethereum due to these corporate actions and the introduction of ETFs.
As of the latest data, Ethereum is trading at approximately $4,733, with a 2% increase over the last 24 hours, according to CoinMarketCap.
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