As the crypto market experiences a short-term correction, Standard Chartered Bank remains bullish on Ethereum, pointing out that supported by increased on-chain activity and continuous institutional funding, positioning ETH and Bitmine Immersion before the weekend offers a good risk-reward ratio.
(Previous summary: Standard Chartered: 2026 is the “Year of Ethereum” with a target price of $7,500, aiming for $40,000 by 2030)
(Additional background: Ethereum staking demand hits a nearly two-year high! 3 million ETH are queued for staking, and the unstaking queue is completely cleared. Is ETH about to rise?)

Table of Contents

• Fusaka Upgrade Sparks New Highs in On-Chain Transactions
• Institutional Funding Continues, Bitmine Becomes a Key Indicator
• Macro Environment Improves, Favoring Performance of Risk Assets
• Attractive Risk-Reward Ratio, Standard Chartered Maintains Bullish Outlook

Recently, amid a short-term correction in the cryptocurrency market and a shift towards more conservative investment sentiment, Standard Chartered Bank remains optimistic about ETH’s future performance. Geoff Kendrick, Head of Digital Asset Research at the bank, points out that based on on-chain data, institutional funding trends, and macroeconomic conditions, holding ETH and DAT company Bitmine Immersion (BMNR) before the weekend still offers an attractive overall risk-reward ratio.

Fusaka Upgrade Sparks New Highs in On-Chain Transactions

Kendrick notes that the price correction has not weakened Ethereum’s fundamentals. Over the past few weeks, on-chain transaction activity on the Ethereum mainnet has significantly heated up, with transaction counts repeatedly hitting record highs, mainly benefiting from the Fusaka upgrade completed in December last year. This upgrade increased the network’s overall processing capacity, effectively alleviating previous technical bottlenecks.

He emphasizes that, unlike past upgrades, Fusaka brings structural improvements that enable more users and developers to perform on-chain operations smoothly, providing more sustainable growth momentum for the network.

Institutional Funding Continues, Bitmine Becomes a Key Indicator

In addition to on-chain data, institutional funding trends are also seen as important indicators. Bitmine Immersion, currently the company holding the most ETH globally, recently stated at its annual shareholders’ meeting that it will continue to expand its ETH holdings and acquisitions in the future.

Kendrick believes that the company actively deployed ETH during the market correction, reflecting large institutional confidence in Ethereum’s long-term value and providing some psychological support to the market.

Macro Environment Improves, Favoring Performance of Risk Assets

On the macro front, Kendrick points out that several uncertainties have gradually eased, including the cooling of some trade and geopolitical risks, stabilization of Japan’s bond market after panic selling, and rising market expectations of a potential easing of US monetary policy. The overall environment is favorable for risk assets.

He believes that if future monetary policy remains relatively accommodative, it will support high-volatility assets like cryptocurrencies.

Attractive Risk-Reward Ratio, Standard Chartered Maintains Bullish Outlook

Based on price trends, on-chain fundamentals, corporate actions, and macroeconomic conditions, Kendrick concludes that, despite short-term volatility, at current levels, “positioning ETH and Bitmine Immersion before the weekend offers a good overall risk-reward ratio.” However, he also reminds investors to remain cautious of market fluctuations and carefully assess their own risk tolerance.