Standard Chartered Bank Predicts Ether Could Reach $8,000 by 2026
According to Geoffrey Kendrick, the head of forex and crypto research at Standard Chartered Bank, Ether has the potential to reach $8,000 by the end of 2026. Kendrick believes that Ethereum’s strong presence in the smart contract field, as well as its use in gaming and tokenization, will contribute to this growth.
Growth is Coming!
Kendrick emphasized that Ethereum’s applications and revenue streams will play a crucial role in achieving the bank’s long-term valuation of $26,000 to $35,000 for Ether. However, these developments may take time to surface.
Polishing Up the Network
Standard Chartered Bank also considers Ethereum’s Layer 2 scaling networks, which are expected to expand due to upcoming technical improvements. These enhancements will lower transaction costs and solidify Ethereum’s position in the smart contract sector.
Kendrick also noted that the forthcoming Bitcoin halving event in April 2024 is likely to have a positive impact on all digital currencies, including Ether.
Regulation and Spot ETFs
The potential implementation of regulations and the introduction of spot exchange-traded funds (ETFs) in the United States, expected in late 2024, are anticipated to further boost Ethereum’s growth and adoption. This will create more opportunities for investors.
Hot Take: Standard Chartered Bank Bullish on Ether’s Future
Standard Chartered Bank predicts that Ether could reach $8,000 by 2026. This is driven by Ethereum’s strong presence in smart contracts, gaming, and tokenization. The bank also highlights the importance of network improvements and upcoming events like the Bitcoin halving. Additionally, the potential implementation of regulations and spot ETFs in the US could further fuel Ethereum’s growth. While the long-term valuation of $26,000 to $35,000 is contingent on the evolution of Ethereum’s applications and revenue streams, Standard Chartered Bank remains optimistic about Ether’s future.
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