tl;dr
Standard Chartered has raised its year-end price target for Ethereum from $4,000 to $7,500, citing increased industry engagement and demand. The bank also increased its 2028 price prediction from $7,500 to $25,000, supported by the Genius Act's legal framework for stablecoins, which benefits Ethereu...
Global banking giant Standard Chartered is reportedly raising its end-of-year price target for Ethereum (ETH), the second-largest digital asset by market cap. The financial services titan is increasing its year-end ETH price target to $7,500 from $4,000, a rise of nearly 88%, citing improved industry engagement and a surge in demand for the token in recent months.
Looking further ahead, Standard Chartered also raised its 2028 price prediction for Ethereum from $7,500 to $25,000. The bank argues that the recent passage of the Genius Act—which created a legal framework for stablecoins—will greatly aid the growth of Ethereum’s ecosystem, which is highly intertwined with dollar-pegged digital assets.
Geoff Kendrick, Standard Chartered’s head of digital assets research, states that, “We project that the stablecoin sector will grow by around 8x by end-2028, which would have a significant direct impact on fees on the Ethereum network.” He further envisions that Ethereum treasury firms will increase their holdings to 10% of all available Ether.
Ethereum has experienced significant growth over the past few months. Currently trading at $4,687, it is nearly matching its all-time high set in November 2021. At the start of July, Ethereum was valued at $2,487, highlighting its rapid recent appreciation.