Standard Chartered Predicts Ethereum Cryptocurrency Could Reach $35,000 as New Use Cases Emerge

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Standard Chartered Predicts Ethereum Cryptocurrency Could Reach $35,000 as New Use Cases Emerge

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Standard Chartered released a report suggesting that the price of ethereum cryptocurrency could potentially reach $35,000 in the future. While ethereum has been facing stagnant growth alongside bitcoin this year, patient investors who have a long-term perspective might be rewarded as ethereum regains its dominance in the smart contracts space and new use cases emerge. In the past few years, several competitors to ethereum such as Solana, Cardano, and Polkadot have emerged, challenging its high fees and slow processing times. However, the development of "layer 2" scaling solutions and the emergence of new use cases are expected to play a crucial role in lifting ether's price five times over the next three years, with the potential for further growth in the future. These scaling solutions, such as Arbitrum and Optimism, aim to improve efficiency within the ethereum ecosystem and retain transactions on the network, which could increase the token's price-to-earnings ratio. Standard Chartered also anticipates that the expansion of use cases in gaming and tokenization will contribute to ethereum's growth by demonstrating the benefits for real-world companies and industries. The report highlights the possibility of significant developments in these areas by 2025-26, potentially paving the way for ethereum to reach a valuation range of $26,000 to $35,000. It is important to note that this valuation assumes the existence of future use cases and revenue streams that may not currently exist.