Standard Chartered Bank: Raises Year-End Ethereum Price Outlook to $7500

On Wednesday, August 13th, Standard Chartered Bank raised its year-end price target for Ethereum from $4000 to $7500. This was due to the increased industry participation in recent months and a rise in Ethereum holdings. The new price target represents a nearly 60% increase compared to Ethereum's over 3.5-year high of $4700 reached on Wednesday. As the second-largest cryptocurrency in the world, Ethereum has become the top choice for investors seeking higher returns. Unlike Bitcoin, which only relies on price appreciation, Ethereum can be used for staking. Holders can lock up tokens to support the Ethereum network and receive rewards. In the past four weeks, driven by the passage of the "Infrastructure Bill", Ethereum's price has surged by more than 50%. The bill aims to establish a regulatory framework for USD-backed stablecoins, and the market expects this to increase their adoption and drive up the prices of crypto assets, including Ether. Geoff Kendrick, the Head of Digital Asset Research at Standard Chartered Bank, stated: "We expect that by the end of 2028, the scale of the stablecoin industry will increase by about 8 times, which will have a significant direct impact on Ethereum network fees." Most stablecoins are issued and traded on the Ethereum blockchain, which has driven up the demand for Ethereum's gas fees. (Jinse)