Standard Chartered Predicts $8,000 Ethereum Price by 2026

Standard Chartered (STAN) Bank analysts are optimistic about Ethereum’s native cryptocurrency Ethereum (ETH) future, forecasting a five-fold increase in its price by the conclusion of 2026. 

The bank, which happens to be one of the most prominent financial institutions, envisions Ethereum’s value surging to $8,000 U.S. within the next two years, attributing this projection to the platform’s expanding utility in blockchain-based smart contracts, gaming, and tokenization of conventional assets.

Driving Factors Behind the Projection

The bullish outlook is grounded in Ethereum’s increasing prominence as a preferred platform for smart contracts. As blockchain technology revolutionizes various industries, the demand for secure and efficient smart contract execution has risen substantially. Ethereum, with its robust and established ecosystem, stands at the forefront of this trend, drawing attention from developers and enterprises.

Notably, the bank’s forecast reflects confidence in Ethereum’s technological capabilities and underscores its potential as a valuable digital asset. The projection aligns with the broader trend of increased institutional and mainstream adoption of cryptocurrencies, where ETH’s utility extends beyond being a digital currency to serving as a foundational technology for various applications.

Meanwhile, according to CoinMarketCap, Ethereum is trading at $1,546.

Standard Chartered Sees BTC at $120k by End of 2024

Meanwhile, this is not the first time the bank is making headlines as regards its bullish predictions related to cryptocurrencies. In July, the renowned worldwide bank revealed that the price of Bitcoin (BTC), the most valuable cryptocurrency by market value, might reach $50,000 by the end of the year.

The bank also noted particularly, that by the end of 2024, the price might have risen by approximately $120,000. 

However in April, Standard Chartered predicted that Bitcoin would reach $100,000 by the end of 2024, believing that crypto winter was gone. Hence, Geoff Kendrick, one of the financial institution’s leading FX analysts, stated that there had now been a 20% upside to that estimated value.

Ethereum leads Innovation

Ethereum continues to be one of the leading competitors in the markets as the cryptocurrency industry develops. Given its popularity and widespread use, it has the potential to be a profitable investment for individuals.

As reported by TheCoinRise, in 2019 at the Yahoo Finance’s All Market Summit in New York, U.S. Commodity Futures Trading Commission Chairman Heath P. Tarbert proclaimed ETH to be a commodity. Additionally, he stated that it is entirely possible that Ether derivatives will materialize in 2020 or possibly earlier.