Standard Chartered has increased its long-term forecast for Ethereum, projecting the digital asset could reach $40,000 by 2030.
The bank expects Ethereum to outperform Bitcoin, supported by DeFi dominance, upcoming scalability upgrades, and favorable regulatory conditions.
Ethereum set to outperform Bitcoin
Love this take from @vaneck_us on ethererum $ETH– by 2030, base case $ETH -> $22,000– by 2030, bull case $ETH -> $154,000https://t.co/hCjsZNL61A pic.twitter.com/C10yq3QRfX
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) January 9, 2026
According to Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, Ethereum’s outlook has improved significantly for 2026 and beyond. He stated that the cryptocurrency could revisit and surpass its 2021 highs, driven by improving market fundamentals. Kendrick emphasized that Ethereum’s expanding role in decentralized finance and stablecoins positions it for stronger performance relative to Bitcoin.
The analyst noted that recent weakness in Bitcoin has weighed on the broader crypto market, but it may create an opportunity for Ethereum to gain ground. He added that continuous accumulation by major Ethereum-focused treasury firms is another factor supporting ETH’s price trajectory.
Regulation and network upgrades boost confidence
Kendrick highlighted regulatory progress as a major catalyst for Ethereum’s future rally. He pointed to the upcoming Senate Agriculture and Banking Committees’ vote on the CLARITY Act as a potential turning point for crypto regulation. He believes that clearer rules will unlock new layers of development within Ethereum’s DeFi ecosystem.
Additionally, Ethereum’s plans to increase its Layer-1 throughput by tenfold could enhance its scalability and efficiency, strengthening its position as a leading smart contract network. Kendrick reiterated that while Bitcoin’s recent underperformance prompted a temporary reduction in ETH’s short-term forecast, the bank remains optimistic about its long-term potential.
Revised price targets and market outlook
Standard Chartered now expects Ethereum to reach $7,500 in 2026, setting a new all-time high. The bank also projects $30,000 by 2029 and $40,000 by 2030. Kendrick stated that these targets reflect Ethereum’s relative strength and its growing role in digital asset markets. At present, Ethereum trades at $3,099, down 1.45% in the past 24 hours and 1.7% over the past month.
Despite lowering its near-term forecast due to Bitcoin’s weakness, Standard Chartered maintains that Ethereum could appreciate nearly 1,200% to meet its 2030 target.
Bitmine expands Ethereum holdings
The forecast coincides with continued Ethereum accumulation by Bitmine Immersion Technologies, the largest publicly traded Ethereum treasury firm. The company recently purchased 24,266 ETH worth about $76 million, raising its total holdings to over 4.16 million ETH valued at $13 billion. This represents about 3.5% of Ethereum’s circulating supply.
Bitmine’s Chairman, Tom Lee, expressed optimism about Ethereum’s medium-term performance. He cited stablecoin growth and tokenization as key trends that will position Ethereum as the financial settlement layer of global markets. Lee expects a broad crypto recovery beginning in 2026, followed by stronger Ethereum gains in 2027 and 2028.
Lee recently suggested that Ethereum could reach $250,000 in the long term, while Bitmine’s share value could rise alongside ETH. The company is seeking shareholder approval to increase its authorized shares to accommodate future capital activities and potential acquisitions.
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