Ethereum's Valuation Considered Undervalued Amid Significant Purchases

According to BlockBeats, Geoff Kendrick, the head of global digital asset research at Standard Chartered Bank, stated that Ethereum (ETH) and ETH treasury companies are currently undervalued at present price levels. Kendrick highlighted that since early June, ETH treasury companies have acquired 2.6% of the circulating ETH. When combined with the inflows from exchange-traded funds (ETFs) during the same period, the total ETH purchased amounts to 4.9% of the circulation, which is substantial. Despite these significant inflows, Kendrick emphasized that this is just the beginning. He previously predicted that treasury companies would eventually hold 10% of the circulating ETH, a target he believes is entirely achievable. Even though ETH has recently experienced a significant decline, Kendrick maintains his earlier forecast that Ethereum will reach $7,500 by the end of the year. He views the recent drop below $4,500 over the past two days as an excellent entry point for investors.