According to Standard Chartered Bank, Ethereum will reach $8,000. In this Pooyan Music post, we will examine the price of Ethereum until the end of 2026. Will the price of Ethereum reach eight thousand dollars by the end of 2026?
According to Standard Chartered Bank, Ethereum has the potential to reach $8,000 by the end of 2026.
This level is just the beginning of Ethereum’s journey towards the bank’s previously estimated long-term range of $26,000 to $35,000.
According to Standard Chartered Bank, the price of Ethereum (ETH), the digital currency native to the Ethereum blockchain, could reach $8,000 from the current price of around $1,600 by the end of 2026.
Ethereum’s established dominance of smart contract platforms, combined with emerging uses in gaming and tokenization, has the potential to propel ETH to $8,000 by the end of 2026, Jeffrey Kendrick said. That means about 5 times the current price of $1,600. The Head of Forex and Crypto Research at Standard Chartered Bank spoke about this in a report on Wednesday.
The expected $8,000 mark for ETH is seen as an initial step toward the bank’s previously announced “long-term structural valuation” range of $26,000 to $35,000, Kendrick said. According to Kendrick, this long-term assessment assumes Ethereum’s future use cases and revenue streams. Things that may not have been created yet. But real-world use cases of gaming and tokenization should support their development.
Ethereum’s Layer 2 scaling networks are also likely to grow, Kendrick said. This growth will be largely due to Ethereum’s upcoming technical upgrades, which will help lower transaction fees on these platforms. That, in turn, should help cement Ethereum’s dominance in the smart contract space, he added. As a result, the P/E ratio (if not its earnings) will increase over the next few years.
According to Kendrick, the Bitcoin halving in April 2024 should also help all digital assets, especially ETH, the second largest digital currency. “Later, potential regulation and spot ETFs in the US should favor ETH as much as Bitcoin,” he added. We are considering this for late 2024, after the US elections.
According to Kendrick’s prediction, all these factors could potentially increase the price of Ethereum to $4,000 by the end of 2024. Which is still lower than the previous peak price of Ethereum at $4866. The price peak that occurred at the end of 2021.
In April of this year, Kendrick also boldly predicted a price of $100,000 for Bitcoin by the end of 2024. According to him, “crypto winter is finally over.” The current price of Bitcoin is around $27,300.