- Ethereum’s price prediction by Standard Chartered has created a buzz in the crypto market.
- The bank expects Ethereum spot ETF applications to be approved this week, leading to significant inflows.
- Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered, predicts Ethereum could reach $8,000 by the end of 2024.
Discover the latest Ethereum price predictions and the impact of upcoming spot ETF approvals on the crypto market.
Ethereum Price Prediction by Standard Chartered
Standard Chartered’s recent Ethereum price prediction has captured the attention of investors and analysts alike. Geoff Kendrick, the bank’s Head of FX Research and Digital Assets Research, anticipates that Ethereum spot ETF applications will be approved this week, potentially leading to inflows ranging from $15 billion to $45 billion within the first 12 months. This prediction has fueled optimism in the market, causing Ethereum-based coins to gain momentum.
Potential Impact on Ethereum’s Price
Kendrick reiterated his forecast that Ethereum’s price could soar to $8,000 by the end of 2024. Additionally, he suggested that Bitcoin, the leading cryptocurrency, might reach $150,000 by the year’s end. These bullish predictions have stirred excitement among investors, prompting a surge in Ethereum’s price. According to CoinMarketCap, Ethereum has risen by over 21% in the past 24 hours, reaching $3,780 at the time of writing.
Spot Ethereum ETF Applications and Market Reaction
As the deadlines for VanEck’s and Ark Invest/21Shares’ spot Ethereum ETF applications approach on May 23 and May 24, respectively, the market is abuzz with anticipation. The potential approval of these ETFs could further drive Ethereum’s price upward. The increased interest in Ethereum has also extended to Ethereum-based coins, with whale movements indicating a shift in investment strategies.
Ethereum-Based Coins Gaining Traction
The Ethereum blockchain’s transparency and security have made it a popular platform for various projects. Among the most notable are WienerAI token, Dogeverse, and VR platform 5SCAPE. These projects have seen increased interest and investment following Standard Chartered’s optimistic predictions.
WienerAI: The AI-Powered Dog Coin
WienerAI, an ERC-20 token built on the Ethereum blockchain, has gained traction among investors. The AI-powered dog coin, symbolized as WAI, aims to provide AI-based investment support to its holders. The ongoing presale has already raised $2.5 million, with WAI tokens currently available at $0.000709. Investors can purchase WAI tokens using ETH, USDT, BNB, and card transactions, and benefit from high APY and block rewards through staking.
Dogeverse: The Multi-Chain Dog Coin
Dogeverse, another Ethereum-based coin, aims to break down barriers between closed crypto communities. Utilizing innovative technologies like Wormhole and Portal Bridge, Dogeverse facilitates fast, secure, and low-cost circulation across multiple chains, including Ethereum, BNB Chain, Solana, Polygon, Avalanche, and Base. The presale is nearing its end, with tokens available at $0.00031. Investors can participate using various cryptocurrencies and enjoy staking benefits with high APY and block rewards.
5SCAPE: The VR Platform on Ethereum
5SCAPE, a VR platform powered by the Ethereum blockchain, has raised over $6 million in its presale. The project aims to create an ultra-realistic VR experience, offering premium features, games, and devices. 5SCAPE tokens, currently priced at $0.00327, can be purchased using ETH, BNB, USDT, MATIC, and card transactions. The project combines AR and VR technologies to provide a unique gaming experience, with games like Cage Conquest and Thrust Hunter gaining popularity.
Conclusion
Standard Chartered’s bullish predictions for Ethereum and the potential approval of spot Ethereum ETFs have sparked significant interest in the crypto market. Ethereum’s price surge and the growing popularity of Ethereum-based coins like WienerAI, Dogeverse, and 5SCAPE highlight the market’s optimism. Investors should stay informed and consider these developments when making investment decisions, as the crypto landscape continues to evolve.
