Ethereum (CRYPTO: ETH) blockchain’s native cryptocurrency, Ether, is estimated to reach $8,000 by 2026-end, Standard Chartered Bank (SCB) research stated.

The bank’s long-term structural valuation for Ether ranged between $26,000 to $35,000, as it had estimated back in September 2021. Geoffrey Kendrick, head of forex and crypto research at SCB, believed real-world use cases of Ether in gaming and tokenization could support the token’s development.

Also Read: Tron Founder Justin Sun Is Dumping Ethereum, Holders Worry Whether Prices Will Fall

“We think Ethereum’s established dominance in smart contract platforms, along with emerging uses in gaming and tokenization, has the potential to push ETH to the $8,000 level by end-2026 (a 5x multiple from the current price of $1,600),” Kendrick said, reported The Block.

Find out more on Ethereum, Bitcoin prices and forecasts. Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event: Future of Digital Assets. Tickets are flying: Get yours!  

In April 2023, SCB’s Kendrick forecasted a $100,000 price for Bitcoin (CRYPTO: BTC) by 2024 end. He believed that with troubles surrounding the stablecoins, Bitcoin is now regarded as the digital gold of the crypto space.

Ethereum’s Strengths: Ethereum is said to have a dominance in the smart contract space which is further strengthened by its upcoming technical upgrades, such as proto-danksharding, that would help lower transaction fees on these platforms. In the past year, Ether prices saw a surge of 20% with the past 24-hour trading volume of almost $8 billion.

Read Next: If You Invested ₹1,000 In Ethereum When The World's First NFT Was Minted, Here's How Much You'd Have Today

Among the many factors, the upcoming Bitcoin halving event in April 2024, potential regulation and spot ETFs in the U.S. are likely to push Ether prices to $4,000 by 2024-end.

After the MiCA regulation is passed for European countries, the U.S. and Britain could follow suit and such regulations are likely to have a positive impact on investor interest and volatility.

Benzinga's Future of Digital Assets conference is scheduled for Nov. 14. Attend and learn more about all the digital assets and their regulations. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.