StanChart says Ethereum price will catch up to bullish internal metrics

Standard Chartered has reaffirmed its bullish price targets for Ether, projecting $4,000 by the end of 2026 and $40,000 by 2030, despite ETH trading 57% below its 2025 peak. The bank argues that Ethereum's internal network metrics, such as transaction counts and total value locked, remain near record levels, suggesting a disconnect between fundamental usage and current market price. This analysis highlights Ethereum's critical role as the primary settlement layer for stablecoins and tokenized real-world assets, which are projected to see massive growth by 2028. While some analysts compare this price slump to Amazon during the dot-com era, others note that Ethereum currently lacks a strong narrative and clear value accrual mechanisms for ETH holders. The market faces headwinds from persistent outflows in U.S. spot ETH exchange-traded funds and a broader trend where Bitcoin momentum dominates price variation. Despite these challenges, institutional interest in tokenization and artificial intelligence-powered agents continues to support long-term optimism among some major market participants. The ongoing debate centers on whether Ethereum's dominance in onchain assets will eventually translate into superior returns for the underlying ETH token.