Standard Chartered Sees Corporate Buys Driving ETH Past $4,000
Main Idea
Standard Chartered predicts Ethereum (ETH) could surpass $4,000 due to increased institutional buying, and has launched spot ETH and BTC trading services through its UK subsidiary.
Key Points
1. ETH institutional buying now surpasses BTC due to crypto investment restrictions.
2. Standard Chartered launched spot ETH and BTC trading via its UK subsidiary, allowing clients to trade the underlying assets directly.
3. ETH price held above $3,800 amid a 19% surge in 24-hour trading volume.
4. A KPMG report found that 91% of hedge funds are either already invested in digital assets or plan to be within five years.
5. ETH's market capitalization was recorded at $464.84 billion, with a circulating supply of 120.71 million ETH.
Description
ETH institutional buying now surpasses BTC due to crypto investment restrictions. Standard Chartered launches spot ETH and BTC trading via UK subsidiary. ETH price holds above $3,800 amid 19% surge in 24H trading volume. Banking giant Standard Chartered has projected a possible rise in Ethereum (ETH) prices well beyond the $4,000 level, citing rising institutional interest as a key factor. Geoff Kendrick, head of digital assets research at the bank, stated that corporate ETH purchases are now be...
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