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Standard Chartered: Raises year-end Ethereum price expectation to $7500
On August 13, Standard Chartered Bank raised its year-end target price for Ethereum from $4,000 to $7,500 on Wednesday, citing improved industry participation in recent months and an increase in Ethereum holdings. This new target price is nearly 60% above the over 3.5-year high of $4,700 that Ethereum reached on Wednesday. As the world’s second-largest Crypto Asset, Ethereum has become the preferred choice for investors seeking higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ethereum can be staked, allowing holders to lock their Tokens to support the Ethereum network and earn rewards. Over the past four weeks, driven by the passage of the Genius Act, Ethereum's price has soared more than 50%. The act aims to establish a regulatory framework for stablecoins pegged to the dollar, and the market expects this to enhance their acceptance, thereby driving up the prices of Crypto Assets, including Ether. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated, "We expect the stablecoin industry to grow approximately 8 times by the end of 2028, which will have a significant direct impact on the fees of the Ethereum network." Most stablecoins are issued and traded on the Ethereum Blockchain, which has increased the demand for Ethereum to pay transaction fees. (Jin10 )