Standard Chartered Bank sees Ethereum hit $35,000
Geoffrey Kendrick, head of crypto research at British banking giant Standard Chartered, says the price of Ethereum could still reach the $35,000 target in the long term.
Kendrick points to the fact that institutional money continues to flow into crypto despite the sell-off. In turn, the price of Ethereum should also benefit after the upcoming transition to Proof-of-Stake The network upgrade is expected to take place later this year. The analyst also named Avalanche and Polkadot as Ethereum's main competitors.
It is worth being skeptical of his prediction, as earlier in September 2021, Kendrick stated that Bitcoin would peak at around $100,000 in early 2022.
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