The evaluation of Ethereum is considered undervalued amidst significant purchases

According to BlockBeats, Jeff Kendrick, head of global digital asset research at Standard Chartered Bank, stated that Ethereum (ETH) and ETH treasury companies are currently undervalued at these price levels.

Kendrick emphasized that since the beginning of June, ETH treasury companies have acquired 2.6% of the circulating ETH. Combined with inflows from exchange-traded funds (ETFs) during the same period, the total amount of acquired ETH is 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 goal he considers quite achievable.

Even though ETH has recently experienced a significant drop, Kendrick maintains his previous forecast that Ethereum will reach $7500 by the end of the year. He views the recent decline below $4500 over the past two days as an excellent entry point for investors.