In the cryptocurrency world, Ethereum predictions are constant. The latest forecast came from the giant bank Standard Chartered. The bank makes an important announcement regarding the ETH price until the end of 2026. Accordingly, ETH price. It has the potential to reach $8,000 by the end of 2026. This estimate represents a value of more than 5 times its current price of approximately $1,600.
A promising future for Ethereum
Geoffrey Kendrick, Head of Forex and Crypto Research at Standard Chartered Bank, makes a statement on the subject. Accordingly, he expresses optimism regarding Ethereum’s outlook. Kendrick highlights Ethereum ETH’s established dominance in smart contract platforms. It also highlights its emerging applications in gaming and tokenization. Both of these could push ETH’s price to $8,000 by the end of 2026. While this prediction is important, it is considered only a first step towards Standard Chartered Bank’s “long-term structural valuation” range of $26,000 to $35,000.
Kendrick notes that long-term valuation is based on Ethereum ETH’s future use cases and revenue streams. He also states that some of these may not have been fully realized yet. However, real-world applications of gaming and tokenization are expected to support these development efforts and strengthen Ethereum’s position in the crypto landscape.
Ethereum’s dominance will increase
Ethereum Layer 2 scaling networks are predicted to experience growth driven by technical upgrades. These upgrades will further increase Ethereum’s dominance in the smart contract industry by reducing transaction fees on these platforms. Kendrick also noted that this should boost Ethereum’s P/E ratio in the coming years, potentially boosting its earnings.
The Bitcoin halving event in April 2024 will have a positive impact on all digital assets. It is especially expected that it will have a positive impact on the second largest cryptocurrency, ETH. Kendrick points out potential regulations expected after the US elections in late 2024. He also predicts that the launch of spot ETFs in the US could further benefit ETH.
The future of ETH price
Considering these factors, Kendrick believes that the Ethereum ETH price could potentially reach $4,000 by the end of 2024. However, it will still remain below its previous peak of $4,866, achieved in late 2021.
When we look at Kriptokoin.com, Kendrick had previously made a prediction for Bitcoin. Accordingly, he stated that BTC would be $ 100,000 by the end of 2024. Bitcoin is currently at $27,300. Ethereum is trading at $1,580.
44315
