- British bank Standard Chartered has published a report on Bitcoin and Ethereum.
- The bank’s analysts said they value Ethereum at $26,000-$35,000.
- Also, the report says that they believe Bitcoin could jump to $175,000.
British bank Standard Chartered has published a report on the two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
According to the report published, British bank Standard Chartered analysts are bullish about Ethereum, the second-largest crypto by market cap, saying, “structurally, we value Ethereum at $26,000-$35,000.” Also, the report says that analysts believe Bitcoin could jump to $175,000.
The British multinational banking and financial services giant called the report “Ethereum Investor Guide.” The report involves many factors. Notably, “structural considerations” such as what the “economic case is for Ethereum.”
Based on the report, the company stated that ETH and BTC share many characteristics. But, it also pointed out Ethereum network functions such as smart contracts, DAOs, decentralized finance (DeFi), non-fungible tokens (NFT), and initial coin offerings (ICOs).
However, the bank said Ethereum features could be a greater risk than they would be with BTC. As per the report, Standard Chartered also took into consideration the regulatory aspect, and “competitive landscape.” Moreover, the bank also said some blockchains are competing with Ethereum Blockchain.
In addition, it stated that different ecosystems already exist and may proceed to challenge Ethereum in niche areas. This includes smart contracts, DAOs, decentralized finance (DeFi), non-fungible tokens (NFT), and initial coin offerings (ICOs).
To conclude, the bank noted that regulatory concerns related to Ethereum will be very different to those than Bitcoin.
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