Standard Chartered Lowers Ether’s Year-End Target to $4,000
- Standard Chartered reduced its Ether year-end target from $10,000 to $4,000.
- The bank cites a structural decline due to competition from layer 2 blockchains like Base.
- Layer 2 solutions have decreased Ethereum’s market cap by an estimated $50 billion.
- The Dencun upgrade has not helped Ethereum maintain its market dominance.
- Ethereum’s price is currently around $1,900 and down approximately 42% year-to-date.
Standard Chartered has revised its forecast for Ethereum, lowering the year-end target to $4,000 due to increased competition from layer 2 blockchains. This competition has contributed to a significant reduction in Ethereum’s market cap by about $50 billion. Despite these challenges, the bank sees potential growth through the tokenization of real-world assets.
Source (2.6)https://cryptobriefing.com/ether-price-forecast-year-end/?rand=59535
