The financial institution Standard Chartered Bank has notably decreased its prediction for the cost of Ethereum (ETH).
The banking behemoth has reduced its price objective for Ethereum in 2025 from $10,000 to just $4,000. This modification occurs as Ethereum struggles with volatility, mostly as a result of the growing acceptance of Layer-2 solutions such as Coinbase’s Base.
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While imposing levies for Layer-2 transactions might possibly reverse this negative trend, the possibility of such an action being implemented is still remote.
According to CoinGecko, the altcoin is presently trading at $1,911. Despite a nearly 5% decrease in the previous week, the revised aim of $4,000 still implies a possible doubling of the cryptocurrency’s value this year.
Standard Chartered remains pessimistic on the ETH/BTC trading pair. They anticipate that Ethereum will continue to perform worse than Bitcoin, potentially reaching its lowest point since 2017.
On a more positive side, Standard Chartered predicts that Bitcoin may reach $200,000 as early as this year, with a long-term goal of $500,000.
