Standard Chartered's Prediction: Ethereum to Reach USD 8K by 2026
In a bold prediction, Standard Chartered's lead on forex and crypto research, Geoffrey Kendrick, and his team are forecasting Ethereum's price to reach USD 8,000 by 2026. Their latest report on Ethereum highlights its position in the domain of decentralized finance, token generation, and smart contract innovations as key drivers behind the surge.
Standard Chartered Analysts Highlight Ethereum's Explosive Growth Potential
Geoffrey Kendrick and his team have made waves with their earlier forecasts, including Bitcoin potentially hitting USD 50,000 by the end of this year and reaching USD 120,000 by 2024. Ethereum being the second-largest cryptocurrency by market capitalization, has now drawn their attention.
Kendrick's recent analysis focuses on Ethereum's "unrivaled command" across various aspects of the crypto world. It extends to decentralized finance (DeFi), token creation, and smart contract applications. According to their research, these factors could drive Ethereum to an impressive USD 8,000 by 2026, a significant five-fold increase from its current value.
This USD 8,000 projection, however, is just the beginning. Standard Chartered's long-term outlook for Ethereum is even more ambitious, envisioning its value ranging from USD 26,000 to USD 35,000. While the USD 8,000 estimate is projected for 2026, the grander valuation is set for 2040, emphasizing the long-term potential of Ethereum.
Gaming Industry and Tokenization to Drive Ethereum's Value
Kendrick and his research team's assessment takes into account the evolving use cases and revenue streams that are yet to emerge. The gaming industry and tokenization are expected to play a pivotal role in accelerating Ethereum's growth.
Kendrick also believes that US regulations on spot exchange-traded funds (ETF) are likely to reinforce both Bitcoin and Ethereum. Standard Chartered's entry into the world of crypto research in September 2021 has provided valuable insights and predictions.
"The gap between traditional finance and the digital world is narrowing by the day," noted Eric Robertsen, the global head of research and chief strategist for Standard Chartered.
What is your take on Standard Chartered's prediction that Ethereum will reach USD 8,000 by the end of 2026? Please share your thoughts and opinions in the comments below.
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