Standard Chartered (OTC:SCBFF) analysts, led by Geoffrey Kendrick, have made a bold prediction regarding the price of Ethereum (ETH). They forecast a significant rise in Ethereum’s price, from its current value of $1,562 to an impressive $8,000 by 2026. This projection is based on several factors, including Ethereum’s expanding use cases, the growth of tokenization and gaming industries, and anticipated upgrades like proto-dank sharding.

According to these analysts, these factors could potentially elevate Ethereum’s market capitalization from its current $157 billion to over $960 billion. They have also set a long-term valuation range of $26,000 to $35,000 for Ethereum and a $120,000 price target for Bitcoin by 2024.

This optimistic prediction contrasts recent concerns raised by JPMorgan Chase (NYSE:JPM) analysts about a 12% reduction in daily transactions, a 20% decrease in daily active addresses, and an 8% drop in total value locked on the Ethereum network following the April Shanghai upgrade. They also noted the underperformance of nine Ether futures ETFs.

However, the TD Sequential indicator suggests a potential rebound to $1,630 for Ethereum if it doesn’t close below the critical price point of $1,530. This positive outlook is further supported by Ethereum’s recent real-world adoption in the gaming and asset tokenization sectors.

Financial analyst Crispus expects significant developments in these areas by 2025-26. Additionally, the imminent Bitcoin halving and the potential approval of a spot Bitcoin ETF could further drive growth. If a Bitcoin ETF is approved, it could pave the way for an Ethereum ETF, providing additional momentum to Ethereum’s price.

Despite a temporary price drop below $1,600 caused by the Ethereum Foundation’s recent sale of 1,700 ETH coins worth $2.7 million, Kendrick remains bullish, predicting a fivefold rally to $8,000 by 2026. However, Ethereum’s transition from Proof of Work (PoW) to Proof of Stake (PoS) could face regulatory challenges and concerns about network centralization. These potential hurdles will need to be addressed as Ethereum progresses toward its projected price target.