Standard Chartered Bank believes ETH will reach $8,000 by the end of 2026

According to Standard Chartered Bank, the price of ether (ETH), the native cryptocurrency of the Ethereum blockchain, could reach $8,000 by the end of 2026.

 With Ethereum's dominance on smart contract platforms, as well as new opportunities to use Ethereum for gaming and tokenization, we believe the ETH exchange rate could reach $8,000 by the end of 2026 (five times the current price of $1,600)," said Jeffrey Kendrick, head of forex and cryptocurrency research at Standard Chartered Bank.

The $8,000 mark for the altcoin is seen as an intermediate step toward the bank's long-term structural valuation of $26,000 to $35,000. According to Kendrick, this valuation suggests new use cases for Ethereum, including gaming applications and tokenization.

Ethereum Tier 2 scaling networks will also evolve, mainly because of future Ethereum technical updates, such as proto-danksharding, which will help lower transaction fees on these platforms. This, in turn, should solidify Ethereum's dominance in smart contracts, thereby increasing its P/E ratio over the next few years, the analyst believes.

According to Kendrick, bitcoin's upcoming halving in April 2024 should help all digital assets, especially the second largest cryptocurrency ether.

In the future, potential regulation and spot ETFs in the U.S. should benefit ETH as much as BTC; we are planning for the end of 2024, after the U.S. elections," the expert believes.
According to Kendrick, all these factors can raise the price of ether to $4000 by the end of 2024, which is still below the previous price high of $4866 set at the end of 2021.

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