Standard Chartered Bank analyst Geoff Kendrick remains optimistic about the long-term outlook for ethereum:native. He believes the disconnect between the token's improving internal metrics and its lagging price is temporary, and it's only a matter of time before the price catches up. Ethereum has dropped 60% from its August 2025 peak to around $2,000, while the ETH-BTC ratio has fallen 38% over the same period. Despite this, Kendrick points out that transaction volumes and total value locked (TVL) in ETH terms remain near historical highs. To explain the gap between fundamentals and price, Standard Chartered likens the situation to Amazon during the dot-com bubble burst in 2001, quoting Jeff Bezos: “Even though the stock price was going the wrong way, everything inside the company was going the right way.” The bank states that it believes “the same applies to the current ETH price” and sees “significant room for ETH prices to recover to levels reflected by its internal metrics.” Standard Chartered reiterated its ETH price predictions: $4,000 by the end of 2026 and $40,000 by the end of 2030. The bank noted that these targets would bring the ETH/BTC ratio back to its 2021 high of around 0.08. The bullish case is partly based on ETH's dominance in the stablecoin and RWA (real-world assets) sectors, which Standard Chartered expects to see significant growth. The bank forecasts that by the end of 2028, the stablecoin market cap will grow sixfold, while non-stablecoin RWAs will grow 50x over the same period.