In a significant move for cryptocurrency markets, global investment bank Standard Chartered has issued a timely recommendation to buy Ethereum (ETH) ahead of the weekend. Analyst Geoff Kendrick’s call, detailed in a recent institutional report, points to fundamental network improvements and shifting macroeconomic signals as key drivers.
Geoff Kendrick, a lead analyst at Standard Chartered’s digital assets research division, authored the report advocating for Ethereum accumulation. The bank, with a substantial history in traditional finance, has increasingly focused on cryptocurrency markets, and its research carries considerable weight among institutional investors. Kendrick’s recommendation specifically targets the short-term period leading into the weekend, a timeframe often watched for volatility and positioning in digital asset markets.
The report grounds its thesis in verifiable on-chain data, emphasizing observable improvements in Ethereum’s core functionality. The primary technical catalyst cited is the successful implementation of the Ethereum Pectra (also referred to as Fusaka) upgrade earlier this quarter. This network hard fork introduced a bundle of Ethereum Improvement Proposals (EIPs) designed to enhance scalability and user experience, directly addressing previous network congestion and high transaction fee issues.
As a result, on-chain metrics show dramatic improvement. Transaction throughput has increased significantly while average gas fees have stabilized at lower levels. Kendrick’s report highlights that daily transaction counts have reached an all-time high, surpassing previous records set during the 2021 bull market. This surge in activity indicates revitalized developer and user engagement with the Ethereum blockchain.
Beyond technical analysis, Standard Chartered’s report integrates crucial institutional and macroeconomic factors. Kendrick specifically notes continued Ethereum purchases by Nasdaq-listed entities like Bitmine Immersion (referred to as Bitmain in one source), led by Tom Lee. This activity provides tangible evidence of sustained institutional demand, moving beyond speculative trading into strategic accumulation.
Additionally, the analyst references the prospective appointment of BlackRock’s Chief Investment Officer, Rick Rieder, as the next Chair of the U.S. Federal Reserve. While still speculative, this potential shift in monetary policy leadership carries implications for all risk assets, including cryptocurrencies. Rieder has publicly expressed nuanced views on digital assets, and markets may anticipate a marginally more favorable regulatory and liquidity environment under such leadership.
Despite Ethereum's price facing a 12% weekly drop, trading near $2,912, analysts point to the strong network fundamentals and institutional accumulation as factors supporting a positive outlook. Kendrick suggested that holding ETH into the weekend presents a favorable risk/reward scenario given the combination of robust on-chain activity and consistent buying pressure.
