Standard Chartered: Ethereum poised to outpace Bitcoin in price growth

Analysts from Standard Chartered have positively assessed the future prospects for Bitcoin and Ethereum. The latter, in their estimates, could rise to $35,000. The Block reports this, citing the first cryptocurrency-focused report by the British financial institution.

The research team compared Ethereum with a financial market where lending, insurance and exchange trading take place. Bitcoin, in their view, is more akin to a currency. Given Ethereum’s broader range of use cases, the ether’s capitalisation will eventually reach that of the leading cryptocurrency.

“Although in the long run the return on ETH investments may exceed BTC’s, the risks are higher as well,” stressed the bank representatives.

The crypto custodian Zodia Custody obtained a license from the UK’s Financial Conduct Authority.

In June, Standard Chartered entered into a partnership with the Asian company BC Group to launch a cryptocurrency exchange for institutional clients.

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