According to Odaily Planet Daily, Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, stated that Ethereum and the related Ethereum Reserve Company are undervalued at current price levels. Since the beginning of June, the Ethereum Reserve Company has purchased 2.6% of the circulating Ethereum, and combined with ETF inflows during the same period, it has purchased a staggering 4.9%. Kendrick believes that although the inflow of funds is considerable, it is only the beginning. Previously, it was expected that the Ethereum Reserve Company would eventually hold 10% of the circulating supply, and this goal is expected to be achieved. Despite the recent plunge in Ethereum prices, he still maintains his prediction that it will rise to $7,500 by the end of the year, and sees a drop below $4,500 as a good buying opportunity (CoinDesk)