Ethereum to $40,000 by 2030: Why ETH Could MASSIVELY Outperform Bitcoin

Summary

• Geoffrey Kendrick forecasts a massive expansion of stablecoins from ~$300B to $2T in the next few years, acting as the primary on-chain dollar.
• He predicts tokenized money market funds (e.g., BlackRock's BUIDL) will grow from ~$10B to $750B by 2028, driven by corporate treasurers moving entire cash balances on-chain for efficiency.
• Tokenization of other assets (equities, etc.) is projected to reach $2T by 2028, a ~50x increase from ~$40B today, with Nasdaq and Kraken cited as examples.
• A convergence of traditional finance (TradFi) and decentralized finance (DeFi) is expected, potentially via AI-powered apps that automatically optimize user cash for yield (e.g., in Aave, Morpho, Compound) without users understanding the underlying mechanics.
• Regulatory clarity (e.g., a U.S. Clarity Act) is seen as a key accelerant for TradFi's adoption of DeFi protocols and on-chain products.
• Kendrick argues that risk-averse banks and asset managers will initially build on Ethereum Layer 1 due to its proven security and uptime, as exemplified by BlackRock's BUIDL launch.
• Increased on-chain activity from tokenization and stablecoins is expected to drive higher Ethereum fees, which he correlates with a higher ETH price.
• He provides explicit price targets: ETH/BTC ratio rising to 4% (0.04) by end-2026, Bitcoin at $500,000, and Ethereum at $40,000 by 2030, implying significant ETH outperformance.