Standard Chartered Names 4 Altcoins, XRP Left Out

Standard Chartered's Geoff Kendrick said Friday that tokenization has won, and XRP is not where he's placing his bets.

Shifting from Bitcoin to Altcoins

Speaking on the Milk Road podcast, Kendrick said Treasury Secretary Scott Bessent's recent remarks on long-end bond buybacks confirmed a cyclical bottom, echoing the signal that marked the top last October.

He drew a stark comparison to Amazon's plunge from $113 to $6 in 2001, when internal metrics kept improving despite the stock crash.

In his view, crypto has just experienced the same disconnect, and tokenization-related altcoins are where that improvement should ultimately show up in prices.

Why Revenue Suddenly Matters

Kendrick argues that crypto is moving from a world where revenue didn't matter to one where revenue is the only thing that matters, much like the Mag 7 stocks today.

Over the past six months, he has built discounted cash flow models for individual projects, a shift directly tied to stablecoins proving that blockchain can replace real-world financial infrastructure.

Two predictions underpin his thesis: stablecoins reaching $2 trillion, and tokenized assets scaling from roughly $40 billion today to that same $2 trillion.

The Four Altcoins at the Core of the Thesis

Token | Price Target | Timeline | Key Catalyst

Uniswap | $100 | 2030 | Fee switch burn rate stabilizing at 3-4% after price triples

Aave | $3,500 | 2030 | Rapid recovery from $300 million hack via $300 million industry rescue fund

Arbitrum | $10 | 2030 | Robinhood Chain boosting monthly revenue 5x to $4-5 million

Chainlink | $200 | 2030 | Near-monopoly on bringing reliable data on-chain

The Logic Behind Each Price Target

Uniswap — $100 target for 2030

The fee switch activated in December started buybacks and burns

Once the price triples, the annualized burn rate stabilizes around 3% to 4%

Already surpassed Kendrick's prior $6.50 June target

Aave — $3,500 target for 2030

Withstood a $300 million exploit tied to its Kelp integration

The industry raised $300 million in assets to bail out the protocol

Price near $170 makes the $180 near-term target look conservative

Arbitrum — $10 target, roughly 70x upside

RobinhoodChain lifted monthly revenue from $1 million to $4-5 million

Token up over 60% since the call was published

Expects more platforms to replicate Robinhood Chain's model

Chainlink — $200 target for 2030

Nearly unbreakable moat as the only end-to-end platform bringing data on-chain

Has quietly accumulated hundreds of millions of dollars in its own tokens

The Ethereum vs. Bitcoin Case

Kendrick's targets for Ethereum are $4,000 by year-end and $40,000 by 2030, while expecting the ETH/BTC ratio to rise from roughly 3% today to 8% by 2030.

For Bitcoin, he maintains his $100,000 year-end target, noting that October 6—the anniversary of last year's all-time high—could be a potential buying window for cycle-based traders.