Standard Chartered Bank: Still predicts ETH could reach $7500 by the end of the year, with the past two days being an excellent get on board point.

On August 26, according to CoinDesk, Geoff Kendrick, the global digital asset research director at Standard Chartered Bank, stated on Tuesday that at the current price level, Ethereum (ETH) and treasury companies are still undervalued. Kendrick pointed out that since the beginning of June, treasury companies have purchased 2.6% of the circulating ETH. Combined with the inflow of trading platform ETFs during the same period, the total ETH purchased from both has reached 4.9% of the circulating supply, a staggering scale. Although these inflows have been considerable, Kendrick emphasized that this is just the beginning. He previously estimated that treasury companies would eventually hold 10% of the circulating ETH, a goal that appears entirely achievable. Despite ETH's recent significant fall, Kendrick remains steadfast in his previous prediction that Ethereum will reach $7500 by the end of the year. He believes that the recent dumping below $4500 over the past two days provides an excellent get on board point for investors.