Ether Price Target Raised to $7,500 for 2023 and $25,000 for 2028
Geoff Kendrick from Standard Chartered has raised his price targets for Ether (ETH). Key points include:
- Year-end target increased to $7,500 from $4,000
- End-2028 target raised to $25,000 from $7,500
- ETH is up over 50% in the past month, currently trading near $4,700
- Forecast for ETH/BTC ratio to rise to 0.05 from 0.039
- Treasury companies and ETFs have acquired 3.8% of circulating ETH since June, double the pace of Bitcoin purchases
- U.S. GENIUS Act passed in July supports stablecoin adoption, with over half issued on Ethereum, accounting for 40% of blockchain fees
- Ethereum aims to increase Layer 1 throughput by 10x to enable higher-value transactions
- Investing in ether treasury strategies is considered more favorable than ETH spot ETFs