Researchers at Standard Chartered Bank recently claimed that Ethereum (ETH), the second largest cryptocurrency by market value, may increase by another 500% from its current price by 2026.The bank also made a similar optimistic prediction compared to Bitcoin (BTC), claiming that Bitcoin may reach $120000 by 2025
Researchers at Standard Chartered Bank recently claimed that Ethereum (ETH), the second largest cryptocurrency by market value, may increase by another 500% from its current price by 2026.
The bank also made a similar optimistic prediction compared to Bitcoin (BTC), claiming that Bitcoin may reach $120000 by 2025.
According to a research report released by the bank on Wednesday, Ethereum's dominance over other smart contract platforms, coupled with upcoming technological upgrades, may drive the value of native tokens.
Geoffrey Kendrick, head of foreign exchange and cryptocurrency research at the bank, wrote:
We believe that the dominant position established by Ethereum in the smart contract platform, coupled with emerging applications in the gaming and token fields, may push ETH up to $8000 (five times higher than the current price of $1600) by the end of 2026.
Its momentum will not stop there: Kendrick suspects that the $8000 mark is just the beginning of the path towards a "long-term structural valuation" of $26000 to $35000- a price range predicted by banks in September 2021.
The analyst stated that this valuation assumes that ETH has not yet representative use cases, although the integration of the gaming and token industries may support its growth.
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