CAN ETHEREUM RECLAIM 2021 HIGHS VS BITCOIN?
Standard Charteredโs Geoff Kendrick is bullish on Ethereum. He says the disconnect between ETHโs strong fundamentals and weak price is temporary.
ETH has fallen 57% to ~$2,100 since August 2025, with the ETH/BTC ratio down 37%. Yet transactions and TVL remain near all-time highs.
The bank compares it to Amazon in the 2001 dot-com crash and expects ETH to catch up. It keeps its targets: $4,000 by end-2026 and $40,000 by end-2030, which would restore the ETH/BTC ratio to its 2021 peak (~0.08).
Key drivers: Ethereumโs 50-65% dominance in stablecoins and tokenized RWAs, both set for massive growth.
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