Standard Chartered's digital assets research team reported that activity on the Ethereum network is nearing record levels. Despite the price of Ether (ETH) remaining well below last year's highs, bank analysts note that the gap between network usage and price will narrow over time. This is reported by Cointelegraph.com reports .
Geoff Kendrick, the bank's global head of digital assets, reaffirmed his forecasts that the ETH price will reach $4,000 by the end of 2026 and $40,000 by 2030. This implies a return of the ETH/BTC ratio to its 2021 level of 0.08. Kendrick compared the current situation to Amazon during the dot-com crash: while share prices fell at the time, the company's internal metrics continued to show positive growth.
Currently, Ethereum serves as the primary settlement layer for stablecoins and tokenized real-world assets (RWA). According to the report, the stablecoin market capitalization is expected to grow to $2 trillion by 2028, with Ethereum retaining more than half of this market.
Bitwise analyst Max Shannon agrees, noting that as transaction volume and on-chain asset velocity increase on the Ethereum network, the value of ETH will rise significantly. In particular, large institutional trades and high gas fees paid for premium services increase the asset's attractiveness.
According to Etherscan data, the number of transactions on the Ethereum network set a record of 3.6 million in April. DeFiLlama data shows that while the total value locked (TVL) in decentralized finance (DeFi) protocols is volatile, the Ethereum ecosystem continues to lead the market.
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