PANews reported on August 26th that, according to CoinDesk, Geoff Kendrick, Standard Chartered Bank's global head of digital asset research, stated in emailed comments sent on Tuesday that Ethereum and its associated Ethereum Reserve Company are undervalued at current prices. Since the beginning of June, the Ethereum Reserve Company has acquired 2.6% of circulating Ethereum, which, combined with ETF inflows over the same period, totals to a staggering 4.9%. Kendrick believes that while this inflow is significant, it's just the beginning. He previously projected that the Ethereum Reserve Company would eventually hold 10% of circulating supply, a goal that is within reach. Despite the recent price plunge, he maintains his forecast of Ethereum reaching $7,500 by the end of the year, viewing a dip below $4,500 as a buying opportunity. He also noted that the Ethereum Reserve Company's valuation is returning to a reasonable level, noting that the mNAV of Sharplink Gaming and Bitmine Immersion has declined, and that SBET's announcement on Friday that it would repurchase shares if its NAV multiple fell below 1.0 sets a floor for the Ethereum Reserve Company's multiple.PANews reported on August 26th that, according to CoinDesk, Geoff Kendrick, Standard Chartered Bank's global head of digital asset research, stated in emailed comments sent on Tuesday that Ethereum and its associated Ethereum Reserve Company are undervalued at current prices. Since the beginning of June, the Ethereum Reserve Company has acquired 2.6% of circulating Ethereum, which, combined with ETF inflows over the same period, totals to a staggering 4.9%. Kendrick believes that while this inflow is significant, it's just the beginning. He previously projected that the Ethereum Reserve Company would eventually hold 10% of circulating supply, a goal that is within reach. Despite the recent price plunge, he maintains his forecast of Ethereum reaching $7,500 by the end of the year, viewing a dip below $4,500 as a buying opportunity. He also noted that the Ethereum Reserve Company's valuation is returning to a reasonable level, noting that the mNAV of Sharplink Gaming and Bitmine Immersion has declined, and that SBET's announcement on Friday that it would repurchase shares if its NAV multiple fell below 1.0 sets a floor for the Ethereum Reserve Company's multiple.
Standard Chartered Bank: Ethereum and Ethereum Reserve are currently undervalued
PANews reported on August 26th that, according to CoinDesk, Geoff Kendrick, Standard Chartered Bank's global head of digital asset research, stated in emailed comments sent on Tuesday that Ethereum and its associated Ethereum Reserve Company are undervalued at current prices. Since the beginning of June, the Ethereum Reserve Company has acquired 2.6% of circulating Ethereum, which, combined with ETF inflows over the same period, totals to a staggering 4.9%. Kendrick believes that while this inflow is significant, it's just the beginning. He previously projected that the Ethereum Reserve Company would eventually hold 10% of circulating supply, a goal that is within reach. Despite the recent price plunge, he maintains his forecast of Ethereum reaching $7,500 by the end of the year, viewing a dip below $4,500 as a buying opportunity. He also noted that the Ethereum Reserve Company's valuation is returning to a reasonable level, noting that the mNAV of Sharplink Gaming and Bitmine Immersion has declined, and that SBET's announcement on Friday that it would repurchase shares if its NAV multiple fell below 1.0 sets a floor for the Ethereum Reserve Company's multiple.
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