Standard Chartered: потенциал Ethereum и компаний в его экосистеме недооценен Translation: Standard Chartered: the potential of Ethereum and companies in its ecosystem is undervalued

The second most valuable cryptocurrency and the companies that own it are currently undervalued. This was announced by Jeffrey Kendrick, head of digital asset research at Standard Chartered, as reported by The Block.

Since June, corporate treasuries and Ethereum spot ETFs have absorbed 4.9% of the total coin supply, which has contributed to the cryptocurrency reaching a new historic high of $4955.

However, the valuations of companies such as SharpLink Gaming and BitMine Immersion have fallen below the Strategy estimates based on the NAV multiplier.

«Given that firms holding Ethereum reserves can earn a yield of 3% from staking, I see no reason for their NAV multiples to be lower than MSTR (which does not earn such income),» stated Kendrick.

Last week, SharpLink even announced that if its net asset value falls below a multiplier of 1, the company will begin buying back its shares. This would help establish a «floor» price that would not be breached.

Kendrick maintains a price forecast for Ethereum of $7500 by the end of 2025 and $25,000 by 2028. He referred to the recent correction as «an excellent entry point.»

Traders are optimistic as well: on the Myriad prediction platform, they assess the likelihood of reaching $5000 in the next four months at approximately 74%.

According to Decrypt, technical indicators also support a positive outlook:

Key support levels are currently at $4000 and $3500, while resistance is around $4800.

However, historical data indicates potential risks of a decline. Typically, Ethereum’s price decreases by an average of 6.42% in September. If the cryptocurrency maintains its current levels, the traditionally bullish October could act as a catalyst for a move toward $5000.

A crypto trader known as Axel Bitblaze highlighted that Ethereum’s price has broken through a “four-year bullish mega triangle.” He notes that the current market structure suggests a move toward $6800-7000.

A crypto investor under the pseudonym Jelle believes the next target is $10,000.

In the past 24 hours, Ethereum has increased by 3.3%, and over the week, it has risen by 7.9%. At the time of writing, the asset is trading at $4565.

It is worth noting that crypto enthusiast CryptoGoos has predicted the end of Ethereum’s rally in September.