Standard Chartered has raised its Ethereum price target to $25,000 by 2028, a major shift from March forecasts that predicted a structural decline for the world‘s second-largest crypto.

The UK banking giant made a massive revision on its Ethereum outlook, now projecting $7,500 by the end of 2025, $12,000 in 2026, $18,000 in 2027, and $25,000 in both 2028 and 2029, up from its earlier $4,000 target for 2025.

"We raise our price forecasts, as the backdrop for ETH has improved dramatically in recent months," the bank‘s Global Head of Digital Assets Research, Geoff Kendrick, wrote.

He noted how institutional buying has occurred at nearly double the pace of Bitcoin accumulation during peak periods.

Kendrick pointed to treasury companies and Ethereum ETFs purchasing 3.8 of all circulating ETH since June, the US GENIUS Act clearing regulatory pathways for stablecoins, and planned network upgrades as key drivers behind the bullish revision.

Standard Chartered calls the legislation a “pivotal change” that will boost liquidity, fuel DeFi growth, and drive ETH demand, given stablecoins already account for 40 of blockchain fees and are mostly issued on Ethereum.

Ethereum is at $4,713.37, marking an 6 daily and 30 weekly gain. That price puts it just shy of its November 2021 all-time high of $4,878, according to CoinGecko.

The odds that Ethereum climbs past its all-time high to $5,000 this year have jumped 39 in the past day on Myriad Markets. The prediction market‘s users now rate Ethereum reaching that milestone with 87.5 odds.

(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)

Illia Otychenko, lead analyst at CEX.IO, told Decrypt that while "the targets grab attention, it‘s worth remembering that the bank made similar bold forecasts last year, like $8,000 in 2024, and $14,000 in 2025" before reducing estimates during March‘s market downturn.

Standard Chartered has previously shifted its Ethereum outlook significantly, reducing its 2025 target from $10,000 to $4,000 just months ago over concerns about layer-2 competition diluting mainnet fees.

"So the latest estimates seem to reflect improved market sentiment rather than potential price targets," Otychenko added, though he acknowledged that institutional accumulation and potential ETF inflows "indeed look like major catalysts that could accelerate Ether‘s price growth this year."

Arthur Azizov, Founder and Investor at B2 Ventures, told Decrypt that the current momentum projects strong upside potential. "Either this year or next, we could see ETH reach $6,000," he said, while cautioning that maintaining support above $3,350 remains crucial for sustained momentum.

Market liquidations data show the current rally‘s force, with over $264.8 million in Ethereum short positions eliminated in the last 24 hours, according to CoinGlass, as the crypto approaches key resistance levels.

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