The overall cryptocurrency market fell 2.9% to around $2.53 trillion,\u00a0wiping out<\/a> nearly $1 billion in leveraged positions. The crypto selloff\u00a0worsened<\/a> after U.S. gross domestic product (GDP) for the first quarter (Q1) was revised lower to 1.6% from 2%, missing analyst estimates, even has personal consumption expenditure (PCE) reported in line with market expectations.<\/p>\n Standard Chartered Sees \u2018Amazon 2001\u2019 Setup In Ethereum<\/p>\n Describing Amazon during the 2001 dot-com bust, Jeff Bezos said, “While the stock price was going the wrong way, everything inside the company was going the right way.” Kendrick stated the same dynamic is playing out with ETH today.<\/p>\n AMZN\u2019s stock<\/a> edged 0.85% lower in midday trade on Thursday, trading at around $270. In 2001, the tech bubble collapse had send the stock price to under $0.30 per share.<\/p>\n Standard Chartered\u2019s bull case rests on Ethereum’s grip over two of the fastest-growing segments in crypto. Kendrick noted that 54% of all stablecoins are currently on Ethereum, and that stablecoins account for around one-third of all Ethereum transactions in 2026 year-to-date, as well as 60% of gross total value locked (TVL) on the network. Standard Chartered projects the stablecoin market cap will increase sixfold from current levels by end-2028. It currently stands near $321 billion.<\/p>\n The second segment of focus was tokenized real-world assets. Kendrick said Ethereum currently hosts around 62% of RWAs and 68% of active on-chain loans, and that the non-stablecoin RWA sector could grow 50 times to $2 trillion by end-2028. Ethereum currently commands about 68% of all decentralized finance\u00a0 (DeFi) TVL, with more than $90-100 billion locked across protocols.\u00a0<\/p>\n Ethereum ETF Outflows Continue To Pressure ETH Price<\/p>\n Ethereum\u2019s price has fallen roughly 57% from its August 2025 peak, while the ETH-Bitcoin ratio has declined around 37% over the same period. The drop below $2,000 marked Ethereum\u2019s first close under that level since March 2026, after the closely watched $2,100 support level broke on Wednesday.<\/p>\n Amid the marcoeconomic backdrop, spot Ethereum exchange traded funds (ETFs) continued to bleed. SoSoValue\u00a0data<\/a> showed over $67 million in outflows on Wednesday, marking the 12th consecutive day of redemptions. BlackRock\u2019s\u00a0iShares Ethereum Trust<\/a> (ETHA) led exits with $65 million, followed by\u00a0Fidelity\u2019s Ethereum Fund<\/a> (FETH) at $2 million.\u00a0<\/p>\n Standard Chartered reaffirmed its long-term Ethereum forecasts, projecting ETH\u2019s price could reach $4,000 by the end of 2026, $10,000 by the end of 2027, $18,000 by the end of 2028, and eventually $40,000 by the end of 2030.<\/p>\n Read also:\u00a0PCE Report In Line: Bitcoin Still Drops Below $73K After 1.6% GDP Revision, ETF Selling Pressure<\/a><\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com<\/p>\n
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