Standard Chartered Raises Ethereum Target: Is $7,500 Possible?
Ethereum (ETH) is becoming the focus of investors after Standard Chartered Bank – one of the largest financial institutions in the UK – predicted that the coin could reach $7,500 this year.
From cautious forecast to bold call
Previously, Standard Chartered had accurately estimated the price of ETH to hit $4,000. With Ethereum having surpassed the $4,878 mark, the bank is now boldly raising its expectations, considering ETH a leading candidate in the race to expand blockchain applications.
This confidence comes from the explosive prospect of the stablecoin market. According to Reuters, Standard Chartered believes that the size of stablecoins could increase 8 times by 2028 – a trend that Ethereum will benefit greatly because most popular stablecoins (USDT, USDC) are based on Ethereum's infrastructure.
Momentum: From New Laws to Whales Buying Up
The recent passage of the Genius & Clarity Act in the US has provided bullish momentum to the entire altcoin market. However, Ethereum is showing its ability to lead the way, increasing by 58% in just 30 days, with a trading volume of $51 billion in a day - a figure that shows tremendous liquidity strength.
Notably, on-chain data shows that crypto whales are actively buying ETH at prices around $4,700. The Chaikin Money Flow (CMF) indicator has crossed the 0.33 threshold, indicating strong inflows from institutional investors. One new whale wallet even spent over $17 million to buy 3,606 ETH from Binance.
Challenges and Risks
Despite the bright outlook, Standard Chartered also notes that macro factors such as global economic instability or force majeure events could negatively impact price trends. In addition, the current surge has also put ETH in an “overbought” state on some technical indicators, suggesting a short-term correction.
Market implications
Ethereum is asserting its position not only as a leading altcoin but also as an infrastructure platform for the digital economy. With its scalability, staking capabilities, and large DeFi – NFT ecosystem, ETH offers a different value proposition than Bitcoin. Standard Chartered’s forecast not only highlights the upside potential, but also reflects a large shift of institutional capital to Ethereum.