Ethereum (ETH) is at the centre of renewed attention after a recent price pullback created a potential entry point for investors.
Standard Chartered has forecast that ETH could rise to $7,500 by year-end, citing growing demand from digital asset treasuries and strong inflows from exchange-traded funds (ETFs).
The development comes as ETH remains one of the best-performing major tokens of the past month, outpacing Bitcoin despite short-term selling pressure.
Analysts point to a combination of institutional flows, treasury strategies, and staking yields as factors that could reshape Ethereum’s near-term outlook.
Standard Chartered predicts ETH at $7,500 in 2024
Standard Chartered’s Head of Digital Assets Research, Geoff Kendrick, said institutional interest in Ethereum is still “just getting started”.
Since early June, treasury companies have bought 2.6% of the total ETH supply, a figure that rises to 4.9% once ETF inflows are included. This pace is stronger than Bitcoin’s accumulation during its 2024 breakout.
🔥 ETH Accumulation Alert! Since June, ETH treasury companies and ETF inflows have purchased 4.9% of all Ether in circulation, according to Standard Chartered. 🟠📈 This level of institutional demand highlights growing confidence in Ethereum’s long-term potential and could set
According to Kendrick, Ethereum-focused treasury companies could eventually hold 10% of the circulating supply.
Bitmine (BMNR) alone is targeting 5%, leaving a further 7.4% of ETH still to be absorbed. Such accumulation could create a supply shock, accelerating price discovery.
Ethereum treasuries and staking yield advantage
Ethereum’s treasury firms, including SharpLink Gaming (SBET), have seen valuations normalise below net asset value (NAV) multiples, with analysts suggesting ETH may have already bottomed.
A recent SBET announcement pledged share buybacks if NAV multiples fall below 1.0, reinforcing investor sentiment.
Unlike Bitcoin-focused treasuries, ETH treasuries benefit from Ethereum’s 3% staking yield, which Kendrick identifies as a structural edge.
The yield provides an additional incentive for institutions to hold ETH, alongside the potential for capital appreciation.
Market signals suggest ETH bottoming after $4,900 high
Ethereum recently surged past $4,900 before a correction set in. Despite the decline, ETH remains up 17% over the past month, compared with a 7% drop for Bitcoin.
Kevin Rusher, founder of the Real-World Asset (RWA) borrowing and lending ecosystem RAAC, described ETH as being in price discovery territory, underpinned by institutional treasuries betting on Ethereum’s central role in decentralised finance (DeFi) and real-world asset tokenisation.
Reports also indicate Bitcoin whales have rotated $2 billion into ETH in recent days, further fuelling demand.
The European Union is reportedly considering Ethereum for its digital euro project, signalling growing recognition of its blockchain infrastructure.
Rate cut speculation and retail liquidity impact
Speculation around a possible Federal Reserve rate cut has added another factor to Ethereum’s outlook. A cut could release new retail liquidity into the market, complementing institutional inflows and treasury accumulation.
Analysts say this combination of factors could mark the end of sub-$5,000 ETH, positioning the asset for further price discovery into the second half of 2024.
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