Global financial institution Standard Chartered has predicted that the price of Ethereum’s native token ether (ETH) could reach $8,000 by the end of 2026, according to Reuters. The value would mark a more than five-fold increase in ether’s current price.
The prices of digital assets have suffered during the prolonged crypto winter. Ether’s price has gained 30% this year but the current price of $1,557.33 is well below the all-time high of about $4,869 in Nov. 2021, the tailend of the last bull market.
Standard Chartered head of FX Research Geoff Kendrick based his prediction on Ethereum’s strong presence in smart contracts, gaming and tokenization – sectors that could each see a massive surge in growth. Kendrick also projected that ether could reach a range of $26,000 to $35,000 by 2040 assuming that new use cases and revenue streams emerge over time.
Standard Chartered had predicted in July that the leading cryptocurrency bitcoin (BTC) could reach $50,000 by the end of this year and $120,000 by the end of 2024. BTC is currently priced at $26,685.60 with two and a half months left in 2023.