Standard Chartered Predicts Ethereum May Outperform Bitcoin by 2030

Standard Chartered has lowered its Ethereum (ETH) price target for 2026 but remains optimistic about its future, predicting that ETH will eventually surpass its 2021 highs compared to Bitcoin (BTC). This analysis highlights Ethereum’s improving position in the cryptocurrency market, driven by factors such as increased throughput, decentralized finance (DeFi) activity, and potential regulatory support.

Key Takeaways

Standard Chartered has revised its 2026 ETH price target downwards but maintains a positive long-term outlook.
The bank forecasts that Ethereum will regain its 2021 highs against Bitcoin by 2030.
Ethereum's performance is expected to improve due to factors like increased layer-1 throughput and demand from stablecoin activity.
Regulatory developments, including the US CLARITY Act, are seen as potential catalysts for Ethereum's growth.

Standard Chartered upgrades Ethereum’s long-term outlook

Standard Chartered Enhances Digital Asset Framework

In a recent research update, Geoff Kendrick, the bank’s digital assets analyst, highlighted 2026 as a significant turning point for Ethereum (ETH) against Bitcoin (BTC). Despite lowering its short-term projections, Kendrick expressed optimism about Ethereum’s prospects, stating, “We think Ethereum’s prospects have improved. We therefore expect the cross to gradually return to its 2021 highs.” This remarks spotlight a potential resurgence in the Ethereum/Bitcoin relationship.

The bank now expects Ether to fall short of earlier price forecasts for 2026 but anticipates a gradual rise in value as we approach 2030. The adjustments in the medium-term dollar targets reflect a strategic response to the recent underwhelming performance of Bitcoin, which Standard Chartered identifies as weighing down the overall outlook for digital assets priced in dollars. Even with this downturn, Ethereum's underlying fundamentals exhibit signs of strengthening.

Kendrick pointed out crucial factors that could enhance Ethereum's relative performance. These include ongoing accumulation efforts by Bitmine Immersion Technologies, noted as the largest Ethereum-focused digital asset treasury company. This accumulation has been observed even as exchange-traded fund (ETF) inflows experience a temporary slowdown and corporate treasury purchases decline.

Additionally, Kendrick emphasized Ethereum’s significant role in the realms of stablecoins, tokenized real-world assets, and decentralized finance (DeFi) as key contributors to structural demand. He stated plans to increase Ethereum's layer-1 throughput by nearly tenfold over the next two to three years. “Analysis shows that higher throughput translates into higher market cap,” he noted in the report.

Regulation is also highlighted as a possible catalyst for growth. Kendrick referred to the US CLARITY Act, noting that its passage could provide crucial support for the Ethereum ecosystem, particularly by promoting further developments in decentralized finance. The bill is set to be reviewed by the US Senate on January 15, with a potential approval expected in the first quarter of the year.

Overall, Standard Chartered's analysis suggests that the focus is on Ethereum's ability to regain its relative strength compared to Bitcoin through improvements in throughput, stablecoin activity, and regulatory clarity as we move into 2026 and beyond, rather than aiming for a specific dollar target within the next year.