Ethereum to hit $8,000 by 2026, says StanChart

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Ethereum to hit $8,000 by 2026, says StanChart

By the end of 2026, the second-largest cryptocurrency, Ether, may have a five-fold increase in value, according to global bank Standard Chartered, its latest prediction of rocketing crypto prices.

Over the next two years, Ether will hit $8,000 as it becomes more widely used in blockchain-based covenants known as smart contracts, as well as gaming and the 'tokenisation' of traditional assets, said StanChart head of FX Research, West, Geoff Kendrick.

Ether was trading at $1,575.

Cryptocurrency valuation is challenging, as tokens such as ether or bitcoin that are not backed by traditional assets lack the gauges used to price stocks, bonds or currencies. Investor sentiment is often a factor in the price of crypto tokens.

structural' valuation estimate of $26,000-$35,000, Kendrick said, which also heads the bank's digital assets research.

Ether has gained 30 per cent this year, but remains almost 70 per cent below its all-time peak of about $4,869, hit in Nov. 2021.

In July, StanChart said bitcoin's highest value could reach $50,000 this year and $120,000 by the end of 2024. Bitcoin is currently trading at around $27,275.