Internet reports that Standard Chartered significantly lowered its ETH price target for the end of 2025 from US$10,000 to US$4,000 in its latest research report, believing that Ethereum is facing a structural decline. Standard Chartered Bank pointed out that this decision was made in the following points: 1. L2 expansion weakens the market value of ETH: Layer 2 (L2), originally used to increase the scalability of Ethereum, such as Coinbase's Base, has caused the market value of ETH to evaporate by $50 billion, and may continue to affect its market dominance; in addition, 2. The ETH/BTC ratio is expected to continue to decline: Standard Chartered expects the ETH/BTC ratio to fall to 0.015 by the end of 2027, the lowest level since 2017. 3. Future growth may rely on RWA: If real-world asset (RWA) tokenization develops rapidly, ETH may still maintain its 80% security market share, but the Ethereum Foundation needs to adopt a more proactive business strategy (such as taxing L2), but the possibility is low.（CoinDesk）