Citigroup Forecasts Ethereum Price by End of 2025 in the Range of $2200–$6400

Banking giant Citigroup published an updated forecast for Ethereum (ETH), evaluating the asset’s dynamics by the end of 2025. In the base scenario, the price of ether could decrease to $4300.

In the “bullish” scenario, analysts allow for growth up to $6400, while in the “bearish” scenario, a drop to $2200. The main pricing factor remains user activity on the network, although a significant part of the recent growth was driven by the development of L2 solutions.

According to Citigroup estimates, only about 30% of L2 activity is transmitted to the main Ethereum level. This is explained by the weak “value transfer” mechanism from the second level to the first, which limits the impact of the L2 ecosystem on the base blockchain.

Experts added that capital continues to flow into the sector due to growing interest in the tokenization of real assets and stablecoins. Despite smaller volumes compared to Bitcoin, inflows into ETFs have a stronger effect on the price of ether per dollar. However, Citigroup expects their scale to remain limited due to Ethereum’s smaller capitalization and weak recognition among new investors.

Analysts also emphasized the moderate influence of macro factors. Since the S&P 500 index has already reached the target level of 6600 points, they do not predict significant growth in interest in risky assets, including cryptocurrencies.