Ethereum, sitting at $2,034, would need to hit $40,000 to meet his target. That works out to about 20 times its current value. In other words, Ethereum<\/a> holders would see nearly three times the relative return compared to Bitcoin investors, if the forecast holds.<\/p>\n Kendrick flagged the ETH\/BTC ratio as one indicator to watch. That ratio currently sits at around 0.03. His outlook has it climbing to 0.04 in the near term, a signal that Ethereum would be gaining ground on Bitcoin in relative terms.<\/p>\n He also offered a more immediate checkpoint<\/a>: if Bitcoin gets back to $100,000 by the end of 2026, Ethereum should be trading near $4,000. That would represent gains of roughly 50% for Bitcoin and 95% for Ethereum from where both assets currently stand.<\/p>\n Global Head of Digital Assets Research at Standard Chartered:<\/p>\n \u201cI\u2019ve got $500K Bitcoin by 2030 and $40K Ethereum by 2030 \u2013 a massive outperformance.\u201d<\/p>\n That\u2019s ~20x on $ETH<\/a> from here. pic.twitter.com\/p7dFwPrTzG<\/a><\/p>\n \u2014 Milk Road (@MilkRoad) April 1, 2026<\/a><\/p>\n<\/blockquote>\n One reason why Kendrick believes in the bullishness of Ethereum is that the financial sector has been joining the blockchain revolution.<\/p>\n From Kendrick\u2019s point of view, large asset management firms and banks usually begin their blockchain ventures by developing products based on Ethereum since it has a reputation for safety and reliability.<\/p>\n For instance, BlackRock started creating blockchain products using Ethereum first before venturing into other blockchain networks.<\/p>\n This pattern, Kendrick argues, gives Ethereum a durable edge. As more institutions follow the same playbook, demand for the network could build steadily through the end of the decade.<\/p>\n He described this as the \u201cfirst phase\u201d of real-world adoption playing out primarily on Ethereum, even if activity eventually spreads to competing blockchains.<\/p>\n Network Usage Seen As A Price Driver<\/p>\n Beyond institutional adoption, Kendrick pointed to raw network activity as a key factor in his price outlook. Rising transaction fees on Ethereum-based applications are seen as a gauge of demand.<\/p>\n As stablecoins, decentralized finance, and tokenized real-world assets continue to grow on the network, that increased usage could push the token\u2019s value higher.<\/p>\n Il forecast<\/a> was shared during an interview on the Milk Road podcast with host John Gillen.<\/p>\n\n
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<\/p>\nBanks Are Choosing Ethereum First<\/h2>\n
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