Standard Chartered Bank: ETH price may reach $8,000 by the end of 2026

2023-10-11 20:04:15

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ChainCatcher news, according to The Block, Standard Chartered Bank has stated that by the end of 2026, the price of Ethereum's native cryptocurrency ETH could rise from the current approximately $1,600 to $8,000.

Geoffrey Kendrick, the bank's head of foreign exchange and cryptocurrency research, said in a report on Wednesday, "We believe that Ethereum's established dominance in the smart contract platform, along with emerging uses in gaming and tokenization, could potentially push ETH to the level of $8,000 by the end of 2026 (which is 5 times the current price of $1,600)."

Kendrick indicated that the expected rise to $8,000 is seen as the first step towards the bank's previously set "long-term structural valuation" range of $26,000 to $35,000. While the long-term valuation assumes that Ethereum's future use cases and revenue streams may not yet have materialized, the real use cases in gaming and tokenization should support their development.

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