- According to Standard Chartered Bank, Ethereum’s native cryptocurrency, Ether (ETH), could reach $8,000 by the end of 2026, up from the current approximately $1,600 level.
- This expected level is considered an initial step towards the “long-term structural valuation” range previously stated by the bank, which envisions Ethereum’s future use cases and yet-to-emerge revenue streams.
- All of these factors, according to Kendrick, could take Ether’s price to $4,000 by the end of 2024, which is still below the previous peak price of $4,866 in late 2021.
Standard Chartered Bank made a bold prediction about how many dollars the Ethereum price will rise to in 2026!
How High Will Ethereum Rise in 2026?
According to Standard Chartered Bank, Geoffrey Kendrick, Head of Forex and Crypto Research at the bank, believes Ethereum’s native cryptocurrency, Ether (ETH), which powers the Ethereum blockchain, could potentially reach $8,000 by the end of 2026 from its current level of approximately $1,600. Kendrick stated in a report released on Wednesday:
“Ethereum’s dominance in smart contract platforms, the development of new use cases such as gaming and tokenization, suggests ETH could potentially reach $8,000 by the end of 2026 from the current price of $1,600 (five times the current price).”
The anticipated $8,000 level is seen as an initial step towards the “long-term structural valuation” range stated by the bank, which anticipates Ethereum’s future use cases and yet-to-emerge revenue sources. It is noted that real-world use cases like gaming and tokenization should support this development.
‘Strengthening Ethereum’s Dominance’
The potential for Ethereum Layer 2 scaling solutions to grow is also high, especially considering upcoming technical upgrades for Ethereum, such as proto-danksharding, which will help reduce transaction fees on these platforms. This should help strengthen Ethereum’s dominance in the smart contract space and should increase its P/E ratio over the next few years, even if profitability isn’t the case.
According to Kendrick, Bitcoin’s halving event, expected around April 2024, will particularly assist all digital assets like Ether. Kendrick stated, “After that, potential regulation and U.S.-based spot ETFs should support ETH as much as BTC; we plan this towards the end of 2024 after the U.S. elections.”
All these factors, according to Kendrick, could take Ether’s price to $4,000 by the end of 2024, which is still below the previous peak price of $4,866 in late 2021. Earlier this year, Kendrick made a bold price prediction of $100,000 for Bitcoin by the end of 2024, declaring the end of the “crypto winter.” The current price of Bitcoin is approximately $27,100.
