Standard Chartered: Ethereum Can Reach $35k
Ethereum is the most dynamic platform for DeFi and NFT operations.
ETH, according to supporters, is also on the path of being ultrasound money and set to be scarcer than Bitcoin and gold in the long term.
Now, Standard Chartered, a global bank, thinks Ethereum would soar over 10X reaching $35k. At this pace, ETH stands to overcome Bitcoin, which in their approximation can expand 3X from spot rates to top $150k.
The British bank has its definition descriptive of the state of Ethereum. According to Geoffrey Kendrick, the bank's research team leader, Ethereum is more like a financial market.
Out of this layer, there are various operations like lending, insurance, exchanges, and much more. On the other hand, Bitcoin is a currency.
For a fair comparison, Standard Chartered's report compares the valuation of ETH to those of credit card companies that offer the same services but using a centralized system.
Ethereum has a global audience, is freely accessible, and the flexibility of its infrastructure means it can serve a more expansive group trustlessly.
The bank report concludes that ETH's present valuation is inclusive of the risks involved in development.
While it stands to solve a broader base and rapidly drive financial inclusion, there are more risks associated with continuous improvement.
Presently, Ethereum plans to shift from a Proof-of-Work to a staking system while concurrently addressing scaling.