Standard Chartered Bank Says Ethereum Could Rise 5x Around $8,000 by the End of 2026

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Standard Chartered Bank has made an interesting prediction about the future of Ether, the cryptocurrency linked to the Ethereum platform. They believe that Ether Could Reach $8,000 by End-2026, which is now worth around $1,568

StandChart Says Crypto Token Ether Could Rise 5x by End of 2026

Geoffrey Kendrick, the head of forex and crypto research at Standard Chartered Bank, says that Ether, the native cryptocurrency of the Ethereum blockchain, has the potential to surge to $8,000 by the close of 2026, as forecasted by Standard Chartered Bank. 

Kendrick highlighted, “We think Ethereum’s strong presence in the smart contract field, together with its rising use in gaming and tokenization, has the potential to push ETH to $8,000 by the end of 2026.” This means Ether’s value could increase five times from now.

Notably, the projected $8,000 price for Ether is just the first step toward the bank’s longer-term valuation of $26,000 to $35,000. 

However, this long-term value depends on developing Ethereum’s uses and income sources, many of which might not have emerged yet.

Ethereum’s Ascendancy Supported by Layer 2 Scaling

Another aspect Standard Chartered Bank looks at is Ethereum’s Layer 2 scaling networks. These are expected to expand, partly because of upcoming technical improvements. These upgrades should reduce transaction costs on the Ethereum network, making it even more important in the smart contract domain.

According to Kendrick, it’s not just Ether that could see a boost in value. The upcoming Bitcoin halving event in April 2024 is expected to benefit all digital currencies, particularly Ether, the second-largest cryptocurrency. 

Also, potential regulations and the introduction of spot exchange-traded funds (ETFs) in the United States are anticipated to help Ethereum, tentatively set for late 2024.