Standard Chartered Sees Arbitrum Soaring 70x to $10 by 2030
Standard Chartered has initiated coverage of Arbitrum (ARB), setting a target price of $10 by the end of 2030. According to Kendrick Geoffrey, global head of digital assets research at Standard Chartered, the token is 'hugely undervalued' with a current price of around $0.13.
The bank believes that Arbitrum's recent partnership with Robinhood Chain demonstrates its potential as a leading blockchain infrastructure provider for traditional financial institutions. This collaboration has already led to a significant increase in Arbitrum's monthly revenue, expected to reach around $5 million in September, more than five times the pre-Robinhood Chain launch level.
Standard Chartered estimates that tokenized assets could reach $4 trillion by 2028, creating a large market for blockchain infrastructure providers. However, the bank also notes potential challenges such as slower growth in asset tokenization and increased competition from other blockchains.