Standard Chartered Boosts 2024 ETH Forecast to $7.5K
Ethereum price forecast: Standard Chartered has lifted its 2024 target to $7,500, citing robust spot ETF inflows and supportive U.S. legislation. Ethereum’s price has surged 29% over the past week, trading at $4,636—just 4% below its 2021 peak. Since June, corporate treasuries and spot ETFs have absorbed 3.8% of ETH’s supply, with Ethereum spot ETFs posting a record $1 billion daily inflow and $8.2 billion year-to-date, or 1.5% of market cap. Passage of the GENIUS Act and CLARITY Act is expected to boost liquidity for stablecoins USDC and USDT—over $131 billion on Ethereum—driving fee demand. Technological upgrades, including Layer 1 scaling and Layer 2 networks like Base and Arbitrum, along with record open interest in ETH perpetual futures, reflect growing institutional adoption. Public companies now hold roughly 865,000 ETH. Analyst VirtualBacon sets a $3,350 floor this year but anticipates $6,000–$7,000 if Bitcoin nears $150,000 and the ETH/BTC ratio hits 0.044; clearing $4,850 could spark fresh price discovery. Longer-term, Standard Chartered forecasts ETH at $12,000 by late 2026, $18,000 in 2027, and $25,000 by 2028–29. This upgraded Ethereum price forecast underscores sustained demand from institutional and DeFi sectors.
Bullish
Standard Chartered’s raised 2024 ETH forecast and record ETF inflows signal strong institutional demand and positive market sentiment. U.S. regulatory clarity via the GENIUS and CLARITY Acts reduces stablecoin risk and supports fee revenue. Ongoing Layer 1 and Layer 2 upgrades, plus record open interest in ETH perpetual futures, underscore growing adoption by corporate treasuries and public companies. Short term, momentum and a break above $4,850 could trigger fresh rally; long term, raised targets to $12K–$25K reflect sustained DeFi and institutional use.