Standard Chartered Bank: Raises Year-End Ethereum Price Outlook to $7500

BlockBeats News, August 13th, Standard Chartered Bank on Wednesday raised its year-end price target for Ethereum from $4000 to $7500, citing improved industry participation in recent months and an increase in Ethereum holdings. This new price target represents a nearly 60% premium to Ethereum's over 3.5-year high of $4700 reached on Wednesday.

As the world's second-largest cryptocurrency, Ethereum has become the top choice for investors seeking higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ethereum can be used for staking, where holders lock up tokens to support the Ethereum network and receive rewards. In the past four weeks, driven by the passage of the "Infrastructure Bill," Ethereum's price has surged over 50%. The bill aims to establish a regulatory framework for USD-backed stablecoins, with the market expecting this to increase their adoption and drive up the prices of crypto assets, including Ether.

Geoff Kendrick, Standard Chartered Bank's Head of Digital Asset Research, stated: "We expect that by the end of 2028, the stablecoin industry's scale will grow by around 8 times, which will have a significant direct impact on Ethereum network fees." Most stablecoins are issued and traded on the Ethereum blockchain, which has driven up the demand for Ethereum's gas fees. (Jinse)