Standard Chartered’s latest report indicates that despite short-term market volatility, Ethereum is gradually building medium- to long-term momentum thanks to structural advantages such as stablecoins, real-world asset tokenization, and network upgrades. It is expected to reach a critical growth inflection point in 2026, with a potential price of $40,000 by the end of 2030.
(Background: Standard Chartered slashes Bitcoin forecast! End-of-2025 target halved to $100,000, waiting five more years for BTC to hit $500,000)
(Additional context: Standard Chartered rarely issues buy signals: Has the Bitcoin sell-off wave ended? Are there high-potential tokens for rebound by year-end?)

Table of Contents

• Downgrade short-term target price but upgrade long-term growth potential
• ETH/BTC ratio looks bullish
• Growth in stablecoins and RWA makes Ethereum the biggest beneficiary
• Network upgrades and regulatory environment as key enablers

Although the short-term crypto market still faces volatility and uncertainty, Standard Chartered remains optimistic about Ethereum’s (ETH) medium- to long-term outlook. The bank notes that as blockchain applications deepen, network infrastructure upgrades, and on-chain financial activities grow, Ethereum is poised to enter a key growth phase by 2026, with overall performance expected to outperform other mainstream crypto assets.

Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, stated that 2026 could be a landmark year for Ethereum, similar to how 2021 was for the crypto market. He believes that as on-chain products gradually integrate into the financial system, Ethereum, as a core infrastructure, has significant structural advantages.

Downgrade short-term target price but upgrade long-term growth potential

In the latest report, Standard Chartered lowered its short-term price forecasts for Ethereum over the next few years but maintained high confidence in its long-term trajectory. The bank now estimates ETH will reach about $7,500 by the end of 2026, down from previous forecasts; the target prices for 2027 and 2028 are $15,000 and $22,000, respectively.

However, the bank also raised its longer-term outlook, increasing the 2029 end-of-year forecast to $30,000 and for the first time setting a target of $40,000 by the end of 2030, indicating that the bank believes Ethereum’s value will be more concentrated in the medium to long term.

ETH/BTC ratio looks bullish

Standard Chartered points out that although Bitcoin remains the dominant asset in the market, its recent performance has been underwhelming, putting pressure on the overall crypto market. In contrast, Ethereum’s fundamental drivers continue to strengthen.

The bank expects the ETH/BTC relative price ratio to gradually rebound toward the high of around 0.08 seen in 2021. The main reasons are Ethereum’s dominance in key areas such as stablecoins, decentralized finance (DeFi), and real-world asset tokenization (RWA), with few competitive alternatives in the short term.

Growth in stablecoins and RWA makes Ethereum the biggest beneficiary

The report further highlights that stablecoins and tokenized real-world assets will be core growth drivers for on-chain economies in the coming years. Standard Chartered estimates that these two markets will grow to $2 trillion by 2028, with most trading and settlement activities expected to occur on the Ethereum network.

Currently, over half of stablecoins and RWA are deployed on Ethereum. The bank believes that as traditional financial institutions gradually migrate their operations on-chain, this share could further increase.

Network upgrades and regulatory environment as key enablers

On the technical front, Standard Chartered emphasizes that recent transaction volumes on Ethereum have hit new highs, mainly driven by stablecoin transactions, which account for about 35% to 40% of total network activity. The bank notes that upgrades aimed at increasing Layer 1 throughput — including the recently completed Fusaka upgrade — are crucial for supporting network growth and market capitalization expansion.

Additionally, improvements in the regulatory environment are seen as potential positive catalysts. The bank mentions that if the proposed U.S. Clarity Act passes smoothly, it could reduce policy uncertainty and potentially push Bitcoin to new highs, providing positive support for Ethereum’s medium- to long-term trajectory.