Emerging uses for the Ethereum network in gaming and tokenization are among the drivers of what could be a 5X gain in ether’s price over the next three years, said the bank.
The price of ether (ETH) has the potential to reach $8,000 by the end of 2026 versus its current level just below $1,,600, writes Geoff Kendrick, Head of FX Research, West, and Digital Assets Research at Standard Chartered Bank.
While Ethereum’s dominant uses currently are non-fungible tokens (NFTs) and decentralized finance (DeFi), said Kendrick, an evolution towards gaming and tokenization should add “significant demand.”
“Importantly, this should provide ‘proof of concept’ examples in which real-world industries come on-chain to exploit the benefits of Ethereum over their existing setups,” he added. “We expect significant developments on these fronts by 2025-26.”
In the shorter term, said Kendrick, the bitcoin (BTC) halving in April 2024 “should help lift all boats,” and he sees ether hitting $4,000 by the end of next year.
