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In a nutshell: Standard Chartered lowers its Ethereum target from $10,000 to $4,000.
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Ethereum (ETH) faces its 40s crisis.
Standard Chartered has cut its 2025 forecast from $10,000 to $4,000, noting that Layer 2 solutions, such as Coinbase's Base (NASDAQ: COIN), are absorbing value from the main network.
According to the report "Ethereum — Midlife Crisis," Base has drained $50 billion from Ethereum's market cap, reducing its commission revenues.
The problem is that Ethereum has given away too much power to Layer 2s, which are now taking a large share of the profits. The solution? Some suggest imposing a "super tax" on these networks, but it doesn't seem likely to happen.
In the long term, Ethereum still dominates 80 percent of the tokenized asset market, and upcoming technical improvements, such as Pectra in 2025, could give it a breather.