Hassan Maishera
TL;DR
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Researchers at Standard Chartered Bank believe that Ether could reach the $8k level by the end of 2026.
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Ether has been struggling in recent months and is currently trading below $1,600.
Ether Could Reach $8k In Three Years
Ether is the second-largest cryptocurrency by market cap and has been trading around the $1,600 region in recent weeks. Its blockchain, Ethereum, is also one of the most widely used networks in the cryptocurrency industry.
Thanks to its massive utility within the crypto space, market analysts are optimistic about ETH’s future price. Geoff Kendrick, Head of FX Research, West, and Digital Assets Research at Standard Chartered Bank, believes that the price of ether (ETH) has the potential to reach $8,000 by the end of 2026
Ethereum is the primary blockchain for on-fungible tokens (NFTs) and decentralized finance (DeFi). The analyst pointed out that the blockchain’s evolution towards gaming and tokenization should add significant demand. He wrote that,
"Importantly, this should provide ‘proof of concept’ examples in which real-world industries come on-chain to exploit the benefits of Ethereum over their existing setups. We expect significant developments on these fronts by 2025-26."
Kendrick added that the Bitcoin halving in April 2024 should help lift the broader cryptocurrency market in the near term. He predicts that Ether could hit $4k by the end of 2024.
The medium-term view of Ether at $8k will serve as a stepping stone to Standard Chartered’s valuation estimate of $26,000-$35,000, the analyst concluded.
