Standard Chartered Bank: Increases End of Year Ethereum Price Expectation to $7500

According to BlockBeats, on August 13th, Standard Chartered Bank raised its year-end target price for Ethereum from $4000 to $7500 on Wednesday, citing an improvement in industry participation in recent months and an increase in Ethereum holdings. This new target price represents a premium of nearly 60% over Ethereum's over three-and-a-half-year high of $4700 set on Wednesday. As the world's second-largest cryptocurrency, Ethereum has become the preferred choice for investors pursuing higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ethereum can be used for staking, where holders lock their tokens to support the Ethereum network and receive rewards. In the past four weeks, driven by the passage of the Genius Act, the price of Ethereum has skyrocketed by over 50%. The bill aims to establish a regulatory framework for stablecoins pegged to the US dollar, which is expected to increase their acceptance and drive up the prices of cryptocurrencies, including Ethereum. Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated, "We expect the stablecoin industry to grow by approximately 8 times by the end of 2028, which will have a significant direct impact on the fees of the Ethereum network." Most stablecoins are issued and traded on the Ethereum blockchain, which has driven up demand for Ethereum payment transaction fees. (Golden Ten)