British bank Standard Chartered issued a report that company analysts are favorable about the cryptocurrency Ethereum. Analysts at the bank believe Bitcoin could hit $175,000 and stated that we rate Ethereum at $26,000 to $35,000.
Bank of England Issues “Ethereum Investor Guide”
Standard Chartered the UK multinational banking and financial services issued a report that highlights two top cryptocurrencies. This report is referred to Ethereum Investor Guide. This report covers several factors, including “structural considerations” such as “Ethereum economic case”.
According to a report by British bank Standard Chartered, corporate analysts are bullish on the cryptocurrency Ethereum. Bank analysts believe Bitcoin could hit $175,000 and stated that we rate Ethereum at $26,000 to $35,000.
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Standard Chartered: Proof-of-of-Stake-Shift Has “Clear Environmental Benefits”
The report of Standard Chartered also visualized the growth of Ethereum 2.0. Standard Chartered researchers say that “change has obvious environmental benefits.” Chan stated that “because there is no need to abuse computer power in ‘mining’. The transition from [Proof of Work (PoW)] to [PoS] is expected to be a gradual one in the first half of 2022.”
Chartered Bank also discussed topics such as “fragmentation”, “EVM to eWASM” and Ether supply in general. It is also pointed out that scaling Ethereum and releasing ETH 2.0 is a difficult task. “ETH 2.0 is complex. In addition to complexity, ETH 1.0 and ETH 2.0 run in parallel for longer periods.
Chartered Bank reports also consider the “regulatory environment” and the “competitive environment”. He refers to blockchain competing with Ethereum in the world of defi, NFT, and decentralized applications (dapps). The report further pointed that there is a separate ecosystem present and it will continue to challenge Ethereum.