Standard Chartered compares ETH to Amazon in 2001, maintains a year-end target price of $4,000

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Golden Finance reports that Standard Chartered Bank's Global Head of Digital Asset Research, Geoffrey Kendrick, released a report comparing Ethereum's current situation to Amazon during the 2001 internet bubble burst. He quotes Bezos' famous saying, "Stocks are not companies, and companies are not stocks," pointing out that although ETH's price has fallen about 57% from its August 2025 peak to around $2,000, core on-chain metrics—such as transaction count and ETH-denominated TVL—are near all-time highs, indicating that the divergence between fundamentals and price is unsustainable. Kendrick believes ETH will eventually catch up with improvements in internal metrics and reaffirms target prices of $4,000 by the end of 2026 and $40k by the end of 2030.
The core bullish logic lies in Ethereum's dominant position in the stablecoin and tokenized RWA sectors: currently, 54% of stablecoins are deployed on Ethereum, contributing about one-third of this year's on-chain transactions and 60% of TVL, with the total stablecoin market cap expected to grow sixfold to approximately $2 trillion by the end of 2028; at the same time, Ethereum hosts about 62% of RWA and 68% of on-chain loans, a sector expected to grow 50 times. Additionally, the upcoming Ethereum Economic Zone will reduce reliance on cross-chain bridges and enhance ecosystem composability. Coupled with progress in U.S. crypto market regulation, these factors are seen as important drivers supporting Ethereum's long-term activity and ETH price.
ETH-1.37%
RWA-1.27%
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LittleToad
· 2h ago
It's too unrealistic.
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