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Standard Chartered raised its forecast on Ethereum on Monday, saying it could hit $40,000 by 2030. He also believes that ETH’s growth this year will outperform Bitcoin, driven by improving relative fundamentals in the market. The bank’s Head of Digital Assets Research, Geoff Kendrick, stated that the prospects for Ethereum in 2026 have significantly improved. He also anticipates that the digital asset will cross and gradually return to its 2021 highs. Kendrick pointed to weaker-than-expected BTC performance weighing on the broader cryptocurrency industry as evidence for ETH’s potential rally. He also argued that continued purchases by the largest Ethereum-focused digital asset treasury company will push ETH higher this year. The analyst forecasted that Ethereum will surge, driven by its dominance in stablecoins. He also pointed to the progress in plans to increase the digital asset’s Layer-1 throughput by tenfold. Standard Chartered’s analyst also believes that regulations surrounding the crypto industry are a potential catalyst to catapult ETH’s price. He pointed to the Senate Agriculture and Banking Committees’ vote on the CLARITY Act legislation on Thursday. Kendrick acknowledged that the passage of the bill will establish a clearer framework for virtual assets. He also believes the legislation could significantly benefit Ethereum by unlocking further DeFi developments. Standard Chartered revealed that it lowered its ETH-USD forecast for 2026-2028 due to the weakness in Bitcoin prices. “Despite our more positive outlook for ETH versus BTC, we lower our ETH-USD forecast for 2026-2028 due to BTC weakness. However, we raise our ETH-USD forecast for end-2029, and we see the price reaching $40,000 by end-2030.” -Geoff Kendrick, Head of Digital Asset Research at Standard Chartered. For the near term, Kendrick predicts that Ethereum’s price will reach $7,500 in 2026, which would be a new all-time high for the digital asset. The analyst had previously forecasted that ETH would hit $12,000 this year. For its longer-term outlook, Standard Chartered predicts that ETH prices will reach $30,000 by 2029 and $40,000 by 2030.
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