Banking giant Standard Chartered has dramatically decreased its 2025 Ethereum (ETH) price target from $10,000 to just $4,000.
According to the bank's recent report, Ether has found itself in a precarious position due to the growth of popular layer-2 solutions such as Coinbase's Base.
Taxing layer-2s could potentially reverse this decline, but the probability of such a measure being implemented is low.
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The $4,000 still means that the price of the flagship cryptocurrency might more than double its price this year. According to CoinGecko data, the altcoin is currently changing hands at $1,911 after dropping by nearly 5% over the past seven days.
However, Standard Chartered is still extremely bearish on the ETH/BTC pair. It has been predicted that the flagship altcoin would continue severely underperforming Bitcoin, eventually plunging to the lowest level since 2017.
As reported by U.Today, Standard Chartered predicted that the price of the leading cryptocurrency could reach $200,000 as soon as this year.
The bank also predicted that the price of the leading cryptocurrency would eventually skyrocket to $500,000 in the long term.
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