Ethereum, as one of the leading assets in the cryptocurrency space, attracts interest from analysts and investors. Despite its high price, many experts believe the market has underestimated this asset.
Undervaluation of Ethereum and Market
Analyst Geoffrey Kendrick from Standard Chartered notes that treasury firms focused on Ethereum and spot ETFs have absorbed nearly 5% of circulating supply since June. According to his remarks, aggressive buying pressure pushed ETH to a record high of $4,955 on August 24, followed by a correction.
NAV Discount and Buyback Strategies
Kendrick argues that Ethereum treasuries are cheaper than similar Bitcoin-focused ones. SharpLink Gaming and BitMine Immersion are at a NAV discount compared to MicroStrategy’s Bitcoin balance sheet. He also noted that ETH treasuries benefit from staking yields of approximately 3%.
Price Predictions and Market Outlook
Kendrick remains bullish on Ethereum, setting a year-end target at $7,500 and a prediction of $25,000 by 2028. He also makes predictions about other cryptocurrencies like Bitcoin, which may reach $200,000 by year-end.
Ethereum continues to be one of the most appealing assets in the cryptocurrency market, backed by institutional accumulation and price growth forecasts. However, it is also essential to consider new projects that may deliver significant returns.
