Standard Chartered’s Geoff Kendrick says Strategy’s recent $2.5 million Bitcoin sale marks a turning point for Ethereum, triggering one of its largest daily outperformance spikes against Bitcoin since 2024.
Kendrick argues Ethereum’s price is disconnected from strong network metrics, and that companies staking ETH for rewards reduces the need to sell, unlike Bitcoin-focused firms. He predicts Bitcoin’s dominance over Ethereum will fall to 0.04 by year-end, implying Ethereum could rise 41% to around $2,700 if Bitcoin holds at $67,300.
He also points to Wall Street’s growing interest in stablecoins and tokenization-sectors where Ethereum leads-as catalysts, with BlackRock already backing the network. Kendrick maintains a long-term target of $40,000 for Ethereum by 2030.