Predictions for Ethereum continue to generate interest amid its recent price surge. Standard Chartered has updated its forecast, anticipating the value of the cryptocurrency will reach $25,000 by 2028.
Updated Ethereum Price Prediction
Standard Chartered has raised its price forecast for Ethereum from $7,500 to $25,000 by 2028. This revision comes amid a recent surge in Ethereum prices and increasing investor confidence in digital assets.
Ethereum Foundation's Strategic Sales
On-chain analytics provider Lookonchain reported that the Ethereum Foundation sold 2,795 ETH valued at around $12.7 million during the recent price surge. These sales were made after Ethereum reached $4,500, considered a strategic move amid market changes.
Institutional Interest Supporting Growth
Ethereum's rally has also been bolstered by strong institutional interest. The total amount of ETH held by corporate treasuries is about $9 billion. Furthermore, recent inflows into exchange-traded funds tracking Ethereum exceeded $1 billion. This significantly strengthens the bullish trend of the cryptocurrency.
Analysts' predictions and observations affirm the growing interest in Ethereum from both institutional investors and overall market dynamics. This creates positive expectations for the cryptocurrency in the long run.
