A Monday report from the bank claimed that the second-biggest digital asset could hit $8,000 by the end of this year, and $14,000 is possible by the time 2025 is up.
If, that is, spot Ethereum exchange-traded funds (ETFs) get approved, Geoffrey Kendrick, head of forex and crypto research at the firm, said in the note.
The price of Ethereum is currently hovering slightly above $3,500 per coin, CoinGecko data shows.
Several high-profile fund managers have filed paperwork with the Securities and Exchange Commission (SEC) to release Ethereum ETFs. Such investment vehicles would expose traditional investors to the cryptocurrency via shares that trade on a stock exchange.
Kendrick also said that the network’s recent Dencun upgrade could be the reason for Ethereum shooting up rapidly.
The network behind the second-biggest cryptocurrency was upgraded last week. Developers say the improvement will make transaction fees on the blockchain super cheap.
Kendrick added that the upgrade and lower costs on the network make Ethereum “more competitive.”
Standard Chartered said in a different research note Monday that Bitcoin could hit $150,000 per coin by the end of this year if the newly approved ETFs continue to be popular.
In January, the U.S. Securities and Exchange Commission approved 11 of the investment vehicles.
They have so far been hugely popular with investors—and the massive inflows have pushed the price of Bitcoin up significantly.
Link: https://decrypt.co/222258/ethereum-headed-for-14000-in-2025-alongside-bitcoin-boom-standard-chartered
Source: https://decrypt.co
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.fintechnews.org/ethereum-could-top-14000-next-year-alongside-bitcoin-boom/
- :is
- $3
- $UP
- 000
- 11
- 2025
- 5
- 500
- a
- above
- added
- alongside
- also
- Analysts
- and
- approved
- asset
- At
- Bank
- BE
- been
- behind
- Bitcoin
- blockchain
- boom
- Bullish
- by
- Chartered
- cheap
- claimed
- Coin
- CoinGecko
- commission
- competitive
- continue
- Costs
- could
- crypto
- cryptocurrency
- Currently
- data
- developers
- different
- digital
- Digital Asset
- end
- ETFs
- ethereum
- exchange
- Exchange Commission
- exchange-traded
- expose
- far
- Fees
- Firm
- For
- forex
- from
- fund
- funds
- get
- Go
- going
- Green
- green light
- Grid
- Have
- head
- high-profile
- Hit
- HTTPS
- Hugely
- if
- improvement
- in
- investment
- Investors
- ITS
- January
- jpg
- just
- Last
- light
- lower
- make
- max-width
- May..
- Monday
- Moon
- multinational
- network
- newly
- next
- note
- of
- on
- only
- paperwork
- per
- plato
- Plato Data Intelligence
- PlatoData
- Popular
- possible
- pushed
- rapidly
- reason
- release
- report
- research
- s
- Said
- say
- says
- scene
- SEC
- Securities
- Securities and Exchange Commission
- Shares
- shooting
- should
- Shows
- significantly
- slightly
- So
- so Far
- Spot
- standard
- Standard Chartered
- stock
- Stock Exchange
- such
- Super
- that
- The
- There.
- this
- this year
- time
- to
- top
- trade
- traditional
- transaction
- Transaction Fees
- u.s.
- U.S. Securities
- upgrade
- upgraded
- Vehicles
- via
- was
- week
- will
- with
- would
- year
- zephyrnet
More from Fintech News
Bitcoin could hit $100,000 by 2023 as the cryptocurrency’s latest rally draws momentum traders, Fidelity director says
Source Node: 1877970
Time Stamp: Oct 15, 2021
Bridge Investment Group Announces Expansion Into PropTech, Hires Jeremy Ford as Chief Investment Officer
Source Node: 1613810
Time Stamp: Aug 8, 2022
Autonomous Trains Global Market Report 2024 – ResearchAndMarkets.com
Source Node: 2442829
Time Stamp: Jan 15, 2024
Conocé qué criptomonedas compran las ballenas para noviembre
Source Node: 2372884
Time Stamp: Nov 8, 2023
How To Avoid Getting Into Debt During The Christmas Period
Source Node: 2386626
Time Stamp: Nov 17, 2023
NYSE to Suspend Trading Immediately in Warrants of FinTech Evolution Acquisition Group (FTEV WS) and Commence Delisting Proceedings
Source Node: 1783822
Time Stamp: Dec 23, 2022
Revolutionizing the gaming industry with AI and Big Data
Source Node: 2477518
Time Stamp: Feb 12, 2024