Latest news with #GeoffKendrick
Yahoo
2 days ago
- Business
- Yahoo
Ether Price Target Lifted to $7.5K at Year-End and $25K in 2028 at Standard Chartered
Ether (ETH) has been on a big run of late, but it's just getting started, according to Standard Chartered's Geoff Kendrick. Citing surging institutional demand, favorable regulation, and network upgrades, Kendrick lifted his year-end price target for ETH to $7,500 from $4,000 and his end-2028 target to $25,000 from $7,500. Up more than 50% over the past month, ether is currently trading hands just beneath its record high at $4,700. Alongside, he expects continued outperformance over bitcoin (BTC), forecasting the ETH/BTC ratio to rose to 0.05 from the current 0.039. Ether treasury companies and spot exchange-traded funds have purchased 3.8% of all ETH in circulation since early June, Kendrick said, adding that this was twice the fastest pace of comparable bitcoin buying. The second-largest cryptocurrency has also received a regulatory boost from the passage of the U.S. GENIUS Act in July, which paves the way for mainstream stablecoin adoption. More than half of all stablecoins are issued on Ethereum, and these cryptocurrencies already account for 40% of blockchain fees, Kendrick noted. Network growth is a tailwind. Ethereum developers aim to boost Layer 1 throughput by 10x, positioning the chain for higher-value transactions and expanding Layer 2 ecosystems, the report added. Companies that are buying ether for their treasury strategy are a better buy for investors than ETH spot exchange-traded funds, the bank said in a report earlier this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
ETH To $7,500 In 2025, Says Standard Chartered, As Ethereum ETFs Buy Over $500M Again
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Standard Chartered has increased its base-case forecast for Ethereum (CRYPTO: ETH) to $7,500 by the end of 2025, citing stronger-than-expected demand from exchange-traded funds (ETFs) and heightened on-chain activity. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA What Happened: The new projection comes less than two months after the bank outlined an $8,000–$9,000 bull case, which it now frames as upside potential rather than the central scenario. In a note to clients, Geoff Kendrick, the bank's head of FX Research West and Digital Assets Research, said, "We think Ethereum will continue to benefit from the positive feedback loop between price, on-chain activity, and investor inflows." Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — He added that the updated forecast reflects "higher-than-expected ETF inflows and stronger on-chain activity." The revision follows a period of accelerating institutional inflows into spot Ethereum ETFs. Data from SoSo Value shows that on Aug. 12 alone, the funds recorded $524 million in net inflows, marking six consecutive days of gains. BlackRock's (NASDAQ:ETHA) ETF accounted for $319 million of that total. Spot Bitcoin ETFs also drew $65.94 million on the day, extending their own streak to five days. Standard Chartered now estimates ETF holdings could reach between 2.39 million and 9.15 million ETH by the end of 2025, equivalent to 2%–8% of the circulating supply. Such accumulation could tighten market liquidity and amplify price movements, especially when combined with staking. Kendrick noted the potential for a "super-squeeze" if ETF inflows and staking remove more supply from circulation than expected. In the previous bull market, Ethereum surged over 500% from its 2020 lows to its 2021 peak, while in 2017 it climbed more than 9,000% from trough to top. Standard Chartered expects Ethereum's broader application scope, spanning decentralized finance (DeFi), tokenization, and smart contracts, to help it outperform Bitcoin (CRYPTO: BTC) over the next 18 months. "Ethereum's broader use case set supports a higher ETH/BTC price ratio," Kendrick wrote. The bank also expects staking yields to remain attractive to investors, further supporting the asset's appeal. While the $7,500 forecast is the base case, the bank emphasized that ETF inflows above projections, favorable macro conditions, and further network adoption could push prices higher. However, the bank also acknowledged that weaker inflows or macro headwinds could limit upside. "We think Ethereum will continue to benefit from the positive feedback loop between price, on-chain activity, and investor inflows," Kendrick reiterated. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article ETH To $7,500 In 2025, Says Standard Chartered, As Ethereum ETFs Buy Over $500M Again originally appeared on
Yahoo
3 days ago
- Business
- Yahoo
Ethereum Could Soar to $25,000 by 2028: Standard Chartered
Standard Chartered has raised its Ethereum price target to $25,000 by 2028, a major shift from March forecasts that predicted a structural decline for the world's second-largest crypto. The UK banking giant made a massive revision on its Ethereum outlook, now projecting $7,500 by the end of 2025, $12,000 in 2026, $18,000 in 2027, and $25,000 in both 2028 and 2029, up from its earlier $4,000 target for 2025. "We raise our price forecasts, as the backdrop for ETH has improved dramatically in recent months," the bank's Global Head of Digital Assets Research, Geoff Kendrick, wrote. He noted how institutional buying has occurred at nearly double the pace of Bitcoin accumulation during peak periods. Kendrick pointed to treasury companies and Ethereum ETFs purchasing 3.8% of all circulating ETH since June, the US GENIUS Act clearing regulatory pathways for stablecoins, and planned network upgrades as key drivers behind the bullish revision. Standard Chartered calls the legislation a 'pivotal change' that will boost liquidity, fuel DeFi growth, and drive ETH demand, given stablecoins already account for 40% of blockchain fees and are mostly issued on Ethereum. Ethereum is at $4,713.37, marking an 6% daily and 30% weekly gain. That price puts it just shy of its November 2021 all-time high of $4,878, according to CoinGecko. The odds that Ethereum climbs past its all-time high to $5,000 this year have jumped 39% in the past day on Myriad Markets. The prediction market's users now rate Ethereum reaching that milestone with 87.5% odds. (Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.) Illia Otychenko, lead analyst at told Decrypt that while "the targets grab attention, it's worth remembering that the bank made similar bold forecasts last year, like $8,000 in 2024, and $14,000 in 2025" before reducing estimates during March's market downturn. Standard Chartered has previously shifted its Ethereum outlook significantly, reducing its 2025 target from $10,000 to $4,000 just months ago over concerns about layer-2 competition diluting mainnet fees. Ethereum Liquidations Top $294 Million As ETH Approaches New All-Time High "So the latest estimates seem to reflect improved market sentiment rather than potential price targets," Otychenko added, though he acknowledged that institutional accumulation and potential ETF inflows "indeed look like major catalysts that could accelerate Ether's price growth this year." Arthur Azizov, Founder and Investor at B2 Ventures, told Decrypt that the current momentum projects strong upside potential. "Either this year or next, we could see ETH reach $6,000," he said, while cautioning that maintaining support above $3,350 remains crucial for sustained momentum. Market liquidations data show the current rally's force, with over $264.8 million in Ethereum short positions eliminated in the last 24 hours, according to CoinGlass, as the crypto approaches key resistance levels. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
3 days ago
- Business
- CNBC
Ether nears 2021 record high as money pours into ETFs, bullish forecasts abound
Ether could test its all-time high this week for the first time since the cryptocurrency saw the level in 2021, if investors keep up this week's buying momentum. The price of ether, better known by its ticker ETH, was last higher by more than 3% at $4,673.09, according to Coin Metrics. Earlier, it traded as high as $4,714.02, putting it less than $200 away from its November 2021 all-time high. ETH-linked stocks gained too. Bitmine Immersion jumped 5% premarket, while SharpLink Gaming added more than 2% and Bit Digital advanced 3%. Inflows into ether ETFs are up to $1.5 billion so far this week, compared to $244 million into bitcoin ETFs. They're heading for their fourth consecutive week outpacing flows into bitcoin ETFs. Ether ETFs showed almost no signs of life for most of their first year of trading, until this summer. 1Y mountain Ether (ETH) has held above the key $4,000 level this week That shift was catalyzed by regulatory tailwinds that prompted a boom in institutional interest around stablecoins, which account for 40% of all blockchain fees and more than half of which are powered by the Ethereum blockchain. In the last two and a half months, ETH treasury companies and ETFs have purchased 3.8% of all ETH in circulation, Geoff Kendrick, global head of digital assets research at Standard Chartered, pointed out in a note Wednesday. Kendrick raised his price target on ETH to $7,500 by the end of the year from $4,000. "The July passage of the U.S. GENIUS Act, which clears the way for mainstream adoption of stablecoins, is a pivotal change" and "should also indirectly boost activity on Ethereum's layer 1 as increased stablecoin liquidity leads to more decentralized finance activity, where ETH dominates," Kendrick said. ETH gains also come after stablecoin issuer Circle's first earnings report , which showed a 53% jump in quarterly revenue on strong stablecoin growth, and ahead of the public trading debut of the crypto exchange Bullish, which has a focus on decentralized finance. Ether has held above $4,000 since last Friday, when it breached the level for the first time since December. Although ether has revisited this resistance mark a handful of times since 2021, it has been a challenging one psychologically and technically for traders and has not sustained it before now. The recent climb triggered a wave of short liquidations — more than $250 million across exchanges in the past 24 hours, according to CoinGlass. When traders use leverage to short ETH and the coin's price rises, they buy ETH back from the market to close their positions, pushing the price up and causing more positions to be liquidated. Elsewhere in crypto, bitcoin was trading flat at about $120,600, while altcoins saw bigger gains. The CoinDesk 20 index , a measure of the broader crypto market, was up 2%.
Yahoo
07-08-2025
- Business
- Yahoo
Ethereum treasury buying catches up to ETFs as exchange reserves dry up
Ethereum's liquid supply is vanishing. After a year of feasting alone, exchange-traded funds now face competition from new Ethereum treasury firms hungry for their slice of an ever-shrinking pie. Both groups combined have now acquired roughly 3.2% — worth almost $14 billion — of the cryptocurrency's circulating supply since June 1, according to Geoff Kendrick, global head of digital assets research at Standard Chartered, the UK bank. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase In a note to investors on Wednesday, he noted that treasuries have accelerated their accumulation in recent weeks. As the buying spree picks up, exchanges are being drained of their available supply. Major platforms now hold around 18.8 million Ether worth just under $70 billion, down from roughly 28 million in mid-2022, according to CryptoQuant data. It's the lowest level seen since around 2016, when Ethereum was trading for less than $20. Kendrick believes these treasury firms may now offer investors a more compelling way to gain exposure to Ethereum than spot ETFs. Their market value is increasingly in line with the actual Ether they hold — a measure known as the NAV multiple. SharpLink, one of the most prominent Ethereum treasuries, saw its NAV multiple fall from over 2.5 in July to just above one, indicating a more grounded valuation. That shift, Kendrick argues, makes these firms more investable. 'I see the ETH treasury companies as a better asset to buy than the US spot ETH ETFs,' he said, pointing to potential upside from staking rewards and flexible regulatory treatment. 2017 Bitcoin moment Some analysts believe this could be Ethereum's version of Bitcoin's 2017 breakout. Fundstrat's Tom Lee described Ethereum as 'Wall Street's preferred chain' in a recent CNBC interview. He predicted the Ether price could rise as high as $30,000 — an almost tenfold increase — if the current cycle plays out. And with Standard Chartered's forecast suggesting treasuries could eventually control 10% of ETH's supply, the scramble may still be in its early stages. Crypto market movers Bitcoin has gained 0.9% over the past 24 hours and is trading at $115,000. Ethereum is up 2.8% in the same period to $3,720. What we're reading Tornado Cash dev Storm guilty of money transmission — but jurors deadlocked on most severe charges — DL News These 5 crypto apps = cash machines — Milk Road CZ Files to Dismiss $1.7 Billion FTX Clawback Lawsuit — Unchained MetaMask and Stripe set to launch a new stablecoin errant proposal reveals — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@
