Crypto News – In addition to being enthusiastic about Bitcoin, the British multinational Standard Chartered‘s analysts predict that Ethereum will soar to new heights.
Analysts Think ETH Price Could Be $14K by 2025
According to a bank analysis released on Monday, the price of the ETH would reach $8,000 by year’s end and $14,000 by the time 2025 is over. Geoffrey Kendrick, the firm’s Head of Forex and Crypto Research, wrote in the note that this will happen if spot Ethereum ETFs are allowed.
To release Ethereum ETFs, several well-known fund managers have submitted documentation to the SEC. The bank anticipates that the ETFs will receive the SEC’s approval by the summer, according to Kendrick’s note.
Ethereum is currently between two important events that we see driving price upside. It has just had a structurally significant upgrade, and U.S. regulatory approval of ETH ETFs is expected in May.
Kendrick
Dencun Upgrade Positively Impacts ETH Price
Last week, an upgrade was made to the network powering the second-largest cryptocurrency. According to Kendrick, Ethereum’s latest Dencun upgrade may be the cause of the network’s sharp increase in value. The enhancement, according to developers, will drastically reduce transaction fees on the blockchain. Kendrick went on to say that Ethereum is now more competitive due to network upgrades and decreased costs.
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