Standard Chartered says Strategy's reduction in bitcoin holdings may signal the start of ETH outperforming BTC

ChainCatcher news, according to The Block, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that Strategy's move to reduce its holdings by 32 Bitcoin last week could mark the beginning of a new round where Ethereum outperforms Bitcoin. Kendrick pointed out that although the reduction is “very small”, in the context of BTC falling that day, the ETH/BTC pair saw a rare sharp rise not seen in years. He expects ETH/BTC to rise to around 0.04 by the end of this year, up from the current approximately 0.028. Kendrick maintains a year-end ETH price target of $4,000 and $40,000 for 2030. He also stated that Ethereum treasury companies could sell virtually “zero necessity” coins thanks to about 3% staking yields, making it easier to achieve higher net asset multiples (mNAV) and greater financing capacity compared to Bitcoin treasury companies.