Standard Chartered: Strategy to Sell Bitcoin Could Mark the Start of ETH Outperforming BTC

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BlockBeats News, June 2 — Geoffrey Kendrick, Standard Chartered Bank’s Global Head of Digital Asset Research, said that Strategy’s recent sale of Bitcoin may signal the start of a new bullish cycle for Ethereum relative to Bitcoin. Although Strategy only sold 32 Bitcoins at the end of May, accounting for about 0.004% of its 843,700 Bitcoins holdings, the scale is “negligible,” but the market reaction to it is worth paying attention to. Kendrick believes, “Yesterday might have been the point at which ETH started to outperform BTC.”

This view follows Kendrick’s research report published last week. He compares Ethereum today to Amazon during the 2001 internet bubble burst, saying that although ETH’s recent price performance has been relatively weak, the core fundamentals of the Ethereum ecosystem continue to improve, including growth in stablecoins, the tokenization of real-world assets (RWA), and decentralized finance (DeFi).

Based on the above judgment, Kendrick maintains his long-term optimistic outlook, expecting the ETH price to reach $4,000 by the end of 2026 and rise to $40,000 by the end of 2030. He believes that as Ethereum’s importance in stablecoin settlement, asset tokenization, and on-chain financial activities continues to increase, its long-term value is expected to be continuously unlocked.

BTC-7%
ETH-7.75%
RWA-3.11%
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PixelPnl
· 8h ago
When ETH was worth 40k dollars, what was the supply of ETH at that time? Has the market cap been calculated?
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Post-RainReflectionsMarket
· 8h ago
Stablecoins and RWA are indeed rising, but how long have their prices been disconnected from fundamentals? Those who understand, understand.
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OracleSkeptic
· 8h ago
Strategy sells BTC to buy ETH? I'm familiar with this narrative; it's always ETH needs to catch up.
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GoldfishOnIce
· 8h ago
4,000 to 40,000, ten times in ten years, considered conservative in the crypto world.
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0xSecondThought
· 8h ago
How does ETH compare to Amazon? In 2001, Amazon nearly went bankrupt. Is this analogy bullish or bearish?
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GateUser-c1cab702
· 8h ago
Standard Chartered’s prediction is pretty bold—40k “dao” by April 2030. Let’s see if we can even make it to then first.
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