Standard Chartered Compares Ethereum to Amazon During 2001 Dot-Com Bubble Burst, Says ETH Will Catch up to Internal Metrics
Standard Chartered says record futures open interest and strong buy-the-dip activity suggest ether’s price is still trailing Ethereum’s improving network data.
- On Thursday, Standard Chartered reaffirmed its $4,000 price target for ether by year-end, arguing the token's market value fails to reflect the blockchain's strong underlying metrics.
- Digital Assets Research head Geoffrey Kendrick compared this divergence to Amazon's 2001 stock crash, when share price cratered from $113 to $6 while internal business metrics improved.
- Ethereum hosts 54% of all stablecoins and 60% of gross TVL, yet ether's price has bled 57% from its August peak, contradicting the network's record activity levels.
- While ether dropped under $2,000 for the first time since late March, analytics firm Santiment noted the crowd "usually gets calls wrong," with funding rates flat at 0.0022%.
- Kendrick projects the stablecoin market could grow sixfold to around $2 trillion by 2028, with the Ethereum Economic Zone and potential Clarity Act regulations positioned to support further decentralized finance expansion.
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Standard Chartered backs $4,000 ether price forecast as retail buys the sub-$2,000 drop
The bank says onchain metrics will pull the price back up, just as Amazon's stock price recovered after 2001. A retail dip-buying frenzy and a record futures short build say the bottom isn't in yet.
Standard Chartered Bank Doubles Down On Bold Ethereum Forecast
Ethereum continues to trail Bitcoin in recent market performance. Still, one major global bank refuses to change its long term outlook. Standard Chartered Bank London recently reaffirmed its bold $40,000 target for Ethereum. The prediction surprised many traders because ETH has struggled to match Bitcoin’s momentum this year. Despite that weakness, analysts at Standard Chartered Bank London believe the market undervalues Ethereum’s future potent…
CoinStats - Ethereum Price Battles $2,000, But Standard C...
Ethereum price is fighting to hold psychological ground as sellers have successfully pushed the asset below the $2,000. The post Ethereum Price Battles $2,000, But Standard Chartered Still Sees it Doubling to $4,000 This Year appeared first on Cryptonews.
Ethereum has been struggling to convince markets for months, but Standard Chartered refuses to give in to pessimism. The British bank has just reaffirmed one of the most bold forecasts in the sector: a $40,000 long-term ETH. To justify this bet, the institution points out a simple fact: the current value of the network would not yet reflect its growing weight in decentralized finance, stablecoins and tokenization of assets. The Standard Chartere…
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