Ethereum (ETH) Predicted To Reach IDR 125 Million Per Coin By Standard Chartered

Ethereum (ETH), the second largest crypto asset after Bitcoin. (Photo; Doc. Alltechbuzz)

JAKARTA - Standard Chartered, a financial company giant that previously predicted the price of Bitcoin (BTC) could reach US$50,000 by the end of this year and even US$120,000 (or around Rp1.8 billion) by 2024, again with its latest predictions, this time it focuses on Ethereum (ETH).

In his latest analysis, Geoffrey Kendrick and his team at Standard Chartered highlighted the important role of Ethereum in various aspects of decentralized finance, such as defi, token printing, and smart contract.

They predict that Ethereum could reach an impressive price of around 8,000 US dollars (Rp 125 million) by 2026, which is four times the current price.

However, it should be noted that this prediction is part of a more ambitious long-term projection of the bank, with Ethereum's estimated price reaching between US$26,000 and US$35.000 (Rp549 million) by 2040. Kendrick explained that this projection considers possible new use cases and undisclosed revenue streams.

In addition, Kendrick argues that US regulations related to Exchange-Trad Funds (ETF) for cryptocurrencies are likely to support the growth of Bitcoin and Ethereum. Standard Chartered has long been interested in the crypto world, and experts from this bank continue to provide important insights into the growing digital market.

"The gap between traditional finance and the digital world is getting narrower day by day," said Eric Robertsen, who was head of global research and head of Standard Chartered strategy at the time.