Standard Chartered raises year-end Ethereum price forecast to $7,500

BlockBeats News, August 13 — Standard Chartered Bank on Wednesday raised its year-end price target for Ethereum from $4,000 to $7,500, citing improved industry participation in recent months and an increase in Ethereum holdings. This new target represents a nearly 60% premium over the more than three-and-a-half-year high of $4,700 that Ethereum reached on Wednesday.

As the world’s second-largest cryptocurrency, Ethereum has become the preferred choice for investors seeking higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ethereum can be staked, allowing holders to lock up their tokens to support the Ethereum network and earn rewards. Over the past four weeks, Ethereum’s price has surged by more than 50%, driven by the passage of the “Genius Act.” This legislation aims to establish a regulatory framework for stablecoins pegged to the US dollar, and the market expects this will boost their adoption, thereby driving up the prices of crypto assets including Ether.

Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, stated: “We expect the stablecoin industry to grow by about eightfold by the end of 2028, which will have a significant direct impact on fees on the Ethereum network.” Most stablecoins are issued and traded on the Ethereum blockchain, which increases the demand for paying transaction fees with Ethereum. (Jin10)