Standard Chartered Predicts Ethereum Could Reach $7,500 by Year-End

Standard Chartered's digital assets research head, Geoffrey Kendrick, predicts that Ethereum has potential for further price increases. He cites rising institutional demand and decreasing exchange liquidity as factors that could push Ether toward a year-end target of $7,500.

Key Data Points

Corporate treasury firms have acquired approximately 2.5% of circulating ETH since June.
Spot ETH ETFs have added nearly 5% during the same period.
About 7.5% of supply has been absorbed into corporate treasuries and ETFs since June.
Kendrick anticipates these entities may eventually hold up to 10% of all circulating Ether.

Market Movements

Over 74,000 ETH (approximately $340 million) was withdrawn from exchanges in one day, indicating reduced selling pressure.
ETH experienced a 5% decline before rebounding, currently trading around $4,618, reflecting a 4.6% gain in 24 hours and a weekly increase of 10%.
Traders are monitoring resistance levels at $4,600; surpassing this could lead to targets of $4,700 and $4,800.
ETH briefly reached an all-time high of $4,950 on August 24.
Kendrick's $7,500 forecast suggests a 60% rise from current prices, contingent on strong flows and stable macro conditions.

Corporate Strategies

Firms like SharpLink Gaming and Bitmine Immersion are being valued based on their ETH holdings.
SharpLink announced a share buyback plan if its net asset value drops below 1.0, potentially establishing a stock price floor.
This corporate activity does not equate to permanent ETH removal from circulation, unlike staking or ETF custody.
The bullish outlook relies on certain assumptions, with risks from macroeconomic fluctuations, investor sentiment shifts, and regulatory changes.
Crowded market positions could exacerbate volatility if sentiment shifts abruptly.