Standard Chartered: Still Predicting ETH Could Reach $7,500 by Year-End, Recent Two Days Provide Excellent Entry Point

According to Mars Finance news, on August 26, CoinDesk reported that Geoff Kendrick, the global head of digital asset research at Standard Chartered Bank, stated on Tuesday that Ethereum (ETH) and Treasury companies are still undervalued at the current price levels. Kendrick pointed out that since early June, Treasury companies have purchased 2.6% of the circulating ETH. Combined with the inflows into exchange-traded funds (ETFs) during the same period, the total purchases of ETH have reached 4.9% of the circulating supply, which is remarkable. Although these capital inflows have been quite significant, Kendrick emphasized that this is just the beginning. He previously expected that Treasury companies will ultimately hold 10% of the circulating ETH, a goal that seems entirely achievable. Despite the recent significant drop in ETH, Kendrick still maintains his previous prediction that Ethereum will reach $7,500 by the end of the year. He believes that the sell-off that broke below $4,500 in the past two days provides an excellent entry point for investors.