Odaily Planet Daily News: Standard Chartered Bank raised its year-end target price for Ethereum from $4,000 to $7,500 on Wednesday, citing improved industry participation and increased Ethereum holdings in recent months. The new target price represents a premium of nearly 60% over Ethereum's more than three and a half year high of $4,700 set on Wednesday. As the world's second-largest cryptocurrency, Ethereum has become a top choice for investors seeking higher returns. Unlike Bitcoin, which relies solely on price appreciation, Ether can be used for staking - holders lock up tokens to support the Ethereum network and receive rewards. Over the past four weeks, Ether prices have soared by more than 50%, driven by the passage of the Genius Act. The bill aims to establish a regulatory framework for stablecoins pegged to the US dollar, and the market expects this to increase their acceptance, thereby driving up the prices of crypto assets including Ether. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said: "We expect the stablecoin industry to grow approximately eightfold by the end of 2028, which will have a significant direct impact on fees on the Ethereum network." Most stablecoins are issued and traded on the Ethereum blockchain, which has driven up demand for Ether to pay transaction fees. (Jinshi)