By Bitcoin.com - 6 months ago - Reading Time: 2 minutes
Standard Chartered’s Research Predicts Ethereum to Hit $8K by 2026 and Eyes $35K Long-Term
Ethereum might soar to $8,000 by 2026, suggests a fresh investors memo penned by Standard Chartered’s lead on forex and crypto research. Geoffrey Kendrick, alongside his analytical squad at the bank, pinpointed Ethereum’s stronghold in smart contracts, gaming, and tokenization as the driving forces behind its projected price surge.
A New Era for Ethereum? Standard Chartered’s Latest Price Prediction
After the financial behemoth’s prior forecast of bitcoin (BTC) potentially hitting $50K by year-end and surging to $120K in 2024, Geoffrey Kendrick and his team at Standard Chartered are back with a new report, this time spotlighting ethereum (ETH).
In his recent analysis, Kendrick underscores Ethereum’s “unrivaled command” across diverse realms of decentralized finance (defi), token genesis, and smart contract innovations. These dynamics could catapult ether to an impressive “$8,000 mark by 2026,” marking a quintuple jump from its present stance. Notably, this $8K projection is merely a precursor to the bank’s ambitious long-term forecast of an ether valued between $26,000 and $35,000.
Yet, it’s worth noting that while the $8K estimate is slated for 2026’s conclusion, the grander valuation is pegged for 2040. Kendrick elaborated that this assessment contemplates emerging use cases and revenue streams yet to unfold. Current real-world implementations in gaming and tokenization are poised to accelerate this trajectory.
Standard Chartered’s forex and crypto research lead further opined that U.S. regulations around spot exchange-traded fund (ETF) potentials will likely fortify both BTC and ETH. Diving into the crypto research realm in September 2021, Standard Chartered has since been dishing out expert insights.
“The gap between traditional finance and the digital world is narrowing by the day,” Eric Robertsen, the global head of research and chief strategist for Standard Chartered said at the time.
Do you think the price of ethereum will reach $8K by the end of 2026 as predicted by Standard Chartered? Let us know in the comments section below.
Original source: Bitcoin.com