Tom Lee states that ETH is currently undervalued, forecasting it will exceed $4,000 in the short term and aim for $10,000-$15,000 by the end of the year.
Standard Chartered Bank raises its ETH forecast to $7,500 this year and $25,000 in 2028, but Tom Lee believes this target may still be lower than reality due to the attraction from financial institutions on Wall Street.
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Tom Lee states that ETH is currently undervalued, expecting a strong increase this year.
Standard Chartered's forecast predicts ETH will reach $7,500 in 2023 and $25,000 in 2028.
Ethereum is increasingly becoming the preferred platform for large financial institutions on Wall Street.
How does Tom Lee evaluate the outlook for ETH prices in 2023?
Tom Lee believes that ETH is currently priced below its actual value and will surpass $4,000 in the short term.
Tom Lee's perspective is built on years of experience in the cryptocurrency market and the strong growth of the Ethereum ecosystem, making it more attractive to major investors.
What does Standard Chartered Bank forecast for ETH prices?
Standard Chartered Bank has announced an increase in its ETH price target to $7,500 for 2023, while expecting ETH could reach $25,000 by 2028.
This forecast reflects confidence in the sustainable development of Ethereum as a leading blockchain platform. However, Tom Lee believes that the $7,500 figure for the end of 2023 from Standard Chartered may still be lower than ETH's actual potential.
This assessment is based on factors such as the growth of DeFi and NFT applications, the expansion of the Ethereum ecosystem in DeFi and DApps.
ETH is currently the top choice for financial institutions on Wall Street, significantly increasing the actual value of the Token.
Tom Lee, President of BitMine, August 2023
Why is Ethereum rated as the preferred blockchain for large financial institutions?
Ethereum possesses a vast ecosystem with many DApps, Smart Contracts, and robust DeFi solutions, creating a solid foundation for practical applications.
The choice of many financial institutions to adopt Ethereum as the best platform is reflected in the capital flowing into applications of this blockchain, enhancing both the position and value of ETH. Security, scalability, and the continuous development of the network are key factors.
The above factors reinforce the argument that ETH is not just a speculative asset but also an important infrastructure in modern finance.
Frequently Asked Questions
What price does Tom Lee predict for ETH in 2023?
He expects ETH to exceed $4,000 in the short term and reach $10,000-$15,000 by the end of 2023 based on demand from financial institutions.
How does Standard Chartered Bank forecast ETH prices for 2028?
This bank predicts ETH could reach $25,000 by 2028 amid the development of the cryptocurrency and DeFi markets.
Why is ETH considered an undervalued token according to Tom Lee?
According to him, Ethereum's emergence as the blockchain standard for large financial institutions means ETH is currently undervalued compared to its actual potential.
What advantages does Ethereum have over other blockchains?
Ethereum stands out with its extensive DApp ecosystem, supporting the robust development of Smart Contracts, DeFi, and NFT – a significant advantage for practical application.
Is the rise in ETH prices directly related to institutions on Wall Street?
Yes, the inflow of capital and interest from financial institutions on Wall Street is a crucial driver for ETH's price and long-term value growth.
Source: https://tintucbitcoin.com/ethereum-se-vuot-7-500-usd/
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