Why buy Ether before the weekend? Standard Chartered's analysis

Analysts at Standard Chartered see a buying opportunity for Ether and Bitmine Immersion ahead of the weekend, despite recent market pressures. Geoff Kendrick, senior analyst at Standard Chartered, identifies several tailwinds that would support risky digital assets in the coming days, which would be a good risk-reward ratio for investors positioned in Ether.

Currently listed at around $2.80K as of January 29, 2026, Ether is down 5.48% over the last seven days and is down 9.24% since the beginning of the year. The declines come amid broader volatility in the crypto sector, where Bitcoin has fallen back below $84,000.

Fusaka Update Unleashes Ether: Record Onchain Transactions

A key element supporting optimism towards Ether is the impressive network performance seen following the December Fusaka update. Kendrick notes that the Ethereum network has seen a sharp increase in activity in recent weeks, with the number of transactions reaching new all-time highs.

Unlike previous technological improvements that had failed to spur sustainable growth, Fusaka looks different. This upgrade alleviates previous network capacity bottlenecks, allowing more users and developers to process more transactions. This structural change distinguishes the current wave of activity from previous rallies, according to the analyst.

The increase in network usage demonstrates that scaling solutions are indeed working this time around, opening the door to wider adoption and more varied use cases on ether.

Bitmine Immersion accelerates its Ether acquisitions

Meanwhile, continued buying by Bitmine Immersion, the largest institutional holder of ether, is a strong bullish signal. At its annual meeting the previous week, Chairman Tom Lee reaffirmed the firm’s aggressive plans to continue its Ether acquisitions.

Bitmine Immersion is down 9% on the week and 10% since January, but this has not slowed down the institutional appetite for Ether. These sustained purchases reflect a long-term conviction among the largest institutional players in the sector.

Favorable macroeconomic conditions: the ideal context for Ether

Beyond Ethereum-specific factors, the macro backdrop is also improving. Kendrick points to several reassuring developments:

The resolution of tariff risks related to Greenland has reduced trade uncertainty.

The rebound in the Japanese bond market after a panicked sell-off at the beginning of the week is boosting investors’ confidence in risk.

Above all, the growing odds that Rick Rieder, head of fixed income at BlackRock, will become the next Federal Reserve chair are directly benefiting risk assets. Kendrick notes that “[Rieder] would make the economy run at full capacity, which would help crypto.”

These three factors converge to create a favorable environment for Ether and digital assets more broadly.

Declining trading volumes: short-term challenge but opportunity for savvy investors

However, the market faces immediate challenges. Crypto spot trading volumes have been halved from $1.7 billion last year to $900 million this year. This contraction reflects a slowdown in market enthusiasm and increased investor caution in the face of macroeconomic uncertainty.

Despite this decline in volumes, Bitcoin miners who have shifted their plans to AI infrastructure and high-performance computing continue to outperform, showing that some segments of the sector are holding up well.

Standard Chartered’s analysis: Ether offers a good risk-reward ratio

In conclusion, Standard Chartered’s Geoff Kendrick believes that “going long on Ether and BMNR over the weekend seems to offer a good risk-reward ratio.” This posture reflects a belief that the positive factors — a successful technology update, continued institutional acquisitions, an improved macroeconomic backdrop — outweigh the immediate headwinds.

For investors interested in Ether, these converging dynamics could indeed present a window of opportunity ahead of the weekend, according to the emerging consensus among leading analysts.