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Standard Chartered: “Today May Be the Day Ethereum Starts Outperforming Bitcoin”
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated that Strategy’s recent Bitcoin sale may signal the beginning of a new period of Ethereum strengthening relative to Bitcoin.
According to Kendrick, Strategy’s sale of 32 BTC at the end of May represents only about 0.004% of the company’s total holdings of 843,700 BTC, making its financial impact rather limited. However, the analyst noted that the market’s reaction to the event was noteworthy, stating: “Yesterday may have been the first day Ethereum started to outperform Bitcoin.”
This view aligns with Kendrick’s research report published last week. He compared Ethereum’s current prospects to Amazon, which continued to thrive after the dot-com bubble burst in 2001. While acknowledging Ethereum’s recent underperformance relative to Bitcoin, Kendrick argued that the network’s fundamentals continue to strengthen, particularly highlighting the growing adoption of stablecoins, real-world asset (RWA) tokenization, and decentralized finance (DeFi).
In light of these developments, the Standard Chartered analyst maintains his long-term bullish outlook on Ethereum. Kendrick forecasts that ETH could reach $4,000 by the end of 2026 and $40,000 by the end of 2030.
According to the analyst, as Ethereum’s role in stablecoin payments, asset tokenization, and blockchain-based financial operations continues to expand, the network’s long-term value proposition is expected to become increasingly evident. Therefore, Kendrick maintains that Ethereum could outperform Bitcoin in the years ahead.
