A new report from Standard Chartered Bank predicts that the price of ether (ETH), the native cryptocurrency of the Ethereum blockchain, could reach $8,000 by the end of 2026. This would represent a more than five-fold increase from its current level of just below $1,600.
The report, authored by Geoff Kendrick, Head of FX Research, West, and Digital Assets Research at Standard Chartered Bank, cites a number of factors that could drive up the price of ETH in the coming years. These include:
- The continued growth and adoption of NFTs and DeFi, two of Ethereum’s most popular use cases.
- The increasing use of Ethereum for gaming and tokenization.
- The upcoming Ethereum 2.0 upgrade, which will make the network more scalable and efficient.
Kendrick also notes that Ethereum’s dominance in the smart contract platform market is another factor that could support its future price growth.
“We think Ethereum’s established dominance in smart contract platforms, along with emerging uses in gaming and tokenization, has the potential to push ETH to the $8,000 level by end-2026 (a 5x multiple from the current price of $1,600),” Kendrick wrote in the report.
It is important to note that cryptocurrency prices are notoriously volatile and can be influenced by a wide range of factors, both internal and external to the cryptocurrency market. As such, it is impossible to say with certainty whether or not ETH will reach $8,000 by 2026. However, the report from Standard Chartered Bank is a positive sign for the future of Ethereum and ETH investors.
Also read: Ethereum 2.0: The Evolutionary Leap in Blockchain Technology and What It Means for the Future
What does this mean for investors?
Investors who believe in the long-term potential of Ethereum may want to consider adding ETH to their portfolios. However, it is important to remember that cryptocurrency investing is a risky proposition and investors should only invest what they can afford to lose.
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