JUST IN: Standard Chartered compares Ethereum to Amazon during the 2001 dot-com bubble burst, says ETH will catch up to internal metrics
- The ether price has fallen sharply in recent months, but the underperformance does not reflect continuing improvements in Ethereum's internal metrics, according to Standard Chartered Bank's Global Head of Digital Assets Research, Geoffrey Kendrick.
- Kendrick compared ETH to Amazon stock during the 2001 tech bubble burst, saying ETH will catch up to internal metrics and that "it is just a matter of time."
- Kendrick maintained his ether price targets of $4,000 by end-2026 and $40,000 by end-2030.
Full story soon...
Let's talk Serena Punks ๐งต๐พ
Many NFT projects crave the attention celebrity endorsement can bring
Very few gain it organically
Between March and August 2021 Alexis Ohanian (entrepreneur, co-founder of Reddit and husband of Serena Williams) purchased 7 of the 25 punks with attributes Female, Headband and dark skin
BREAKING NEWS๐จ
@BitMNR (BMNR) will be added to the Russell 1000 Index the 26th of June 2026.
@Sharplink (SBET) will be added to the Russell 2000 Index the same day.
The floodgates to passive inflows are moving!
Are people in Ethereum ready for their ETH going to the moon?๐
Dan Sundheim, who is about to make $20 billion off the SpaceX IPO, has been loading up on cryptopunks this year.
Unlikely to be as successful as his SpaceX bet, but I think he'll 10x on this digital art portfolio.
Not sure if this may clear things up or muddy it further - I just know we are winning and it's time to get fully back to building and remember that our patience will be rewarded:
imo it's a common misconception that the EF and/or Vitalik don't care about the price of ETH.
They do care, very much, because they want Ethereum to be globally ubiquitous for a thousand years, and they know that this audacious goal requires lots of resources and economic security which can only come from a terrific ETH valuation.
The reason the EF has often over the years appeared not to care about the price of ETH is two-fold:
One, the EF is overall insanely confident in Ethereum and in ETH. As they should be. They've earned it and earn it every day. So when we are bearish or scared about the spot price, it's just effectively noise from their perspective of strong conviction and focus.
Two, the EF cares about price in long term structural ways that are incomprehensible to many of us.
We want to know why Didn't Number Go Up in Q4 Or Yesterday.
Whereas they want to know, "How will Ethereum remain dominant after quantum computers?" and, "How will Ethereum be the world's economic hub for trillions in assets and thousands of L2s across a hundred countries?" These are inherently bullish questions. And their programs/answers in response are gigabullish.
The EF departures are not because the people departing feel differently about Ethereum and our trajectory vs. the people staying at EF or vs. community folks like me.
The EF departures are because -
Even benevolent special smart wonderful people naturally have internal politics and differences of opinion over substrategies, policies, etc.
Vitalik and his leadership team feel the EF should be run in a certain way. Some folks disagreed. Some tiny number were asked to leave for Reasons. Some few others left immediately due to Reasonable Net Feelings. Some more are leaving because the Wheel is Turning and they feel that while we all love Ethereum and are extremely excited for our roadmap and proud of past wins, the time for new blood is here.
New blood means genzeth and also young up and comers who are ready to take the reins of their teams and departments.
What's important is that the EF's determination is as strong as ever and its strategy and focus are better than ever before. Credible neutrality. Decentralization. 100% Uptime. Postquantum. Privacy. Scaling L1+L2. Unifying/improving UX for L1+L2. The EF is on it.
What's also important is that the EF is now complemented and balanced by a growing cohort of deeply invested elite eth orgs across the stack/verticals/technologies/go-to-markets, including top L2s like Base, Arb, and zkSync, DATs like BMNR and SBET, and enterprise groups like Etherealize and Consensys, and too many more orgs and kinds of orgs to list here.
We will miss the great EFers leaving this season.
The EF is not only going to be fine, they are going to be amazing. Let the wheel turn. We're ready.
This bear market- secularly in crypto and in terms of global issues- is unfortunate, but that's the industry.
ETH will hit multi trillion in due course. Strap in, be patient. Help out. Get involved. I've been here for 8 years now full-time and it's never more felt like I'm just getting started.
Ethereum.
@notthreadguy@stogolp Secure hundred hundreds of billions of economic activity from from stable coins to NFTs, from RWA's to DeFi. If ETH was turned off tomorrow it all goes to zero. All of it as does the future value. At least a $1trn on value