Markets News Report
October 11, 2023

Ether Predicted to Hit $8000 Mark by 2026, Forecasts Standard Chartered

Ether, which ranks as the second-most prominent cryptocurrency, might witness a value explosion by the close of 2026. This bold forecast, made by global financial heavyweight Standard Chartered, projects that Ether’s value could possibly amplify more than five times its current worth.

According to Geoff Kendrick, Standard Chartered’s Head of FX Research, the digital currency could touch the $8,000 mark in the forthcoming two years. He credits this potential surge to an anticipated increase in Ether’s utility, especially its deployment in blockchain-anchored “smart contracts.”

Additionally, Kendrick highlights its rising prominence in the gaming sector and the progressive “tokenization” of conventional assets.

But this isn’t Standard Chartered’s maiden foray into the crypto forecast realm. A glance back to July 2023 reveals the bank’s optimistic outlook on Bitcoin, the dominant crypto player. Back then, StanChart had augmented its Bitcoin price forecast for 2024, projecting it might ascend to $120,000.

This revised projection, which was a substantial upgrade from their April 2023 prediction of $100,000, emanated from their belief that the chilling “crypto winter” had thawed. Kendrick, the very same analyst, emphasized then that the earlier estimation had a 20% “upside.”

It’s evident that Standard Chartered, with its series of predictions, underscores the significant potential that cryptocurrencies might unleash in the coming years. As financial institutions like StanChart begin to acknowledge and adapt to the crypto sphere’s dynamism, it’s evident that digital currencies are not just a fleeting trend but could shape the financial landscape’s future.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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