Standard Chartered predicts that the price of Ethereum (ETH) will rise to $7,500 by the end of the year due to increasing accumulation by companies and institutional interest.
Ethereum Price Prediction
Ethereum is projected to reach $7,500 by year-end, as outlined in a recent report by Standard Chartered led by Geoffrey Kendrick, Global Head of Digital Assets Strategy.
Company Accumulation and Institutional Interest
Significant accumulation of ETH is happening from treasury companies like SharpLink Gaming and BitMine Immersion, reflecting growing institutional demand and participation in staking. Kendrick stated that "ETH and the ETH treasury companies are cheap at today’s levels."
Market Dynamics and Ethereum's Future
Analysts note that interest in Ethereum and its products could lead to sustainable growth. Given the continued interest from treasury companies, Ethereum may soon surpass Bitcoin in this emerging financial domain.
The Standard Chartered forecast indicates the potential for Ethereum's growth, taking into account current market conditions and institutional interest, which may create favorable conditions for further gains.
