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Standard Chartered's Digital Asset Research Head Geoff Kendrick stated that Strategy's recent small sale of BTC may indicate that ETH is beginning to strengthen relative to BTC. He believes that the key is not the size of this sale, which is only about $2.5 million, but that Bitcoin treasury companies, since BTC itself does not generate income, may need to sell coins or seek financing in the future to cover expenses and debts. Kendrick said that ETH treasury companies can earn income through staking, so they are less likely to sell their underlying assets under financial pressure. He predicts that the ETH/BTC exchange rate will rise from the current approximately 0.028 to 0.04 by the end of the year, meaning ETH could outperform BTC by over 40%. (CoinDesk)