Thomas Lee has highlighted that Ethereum has largely traded within a range since 2021. Despite a recent 22% gain over the past month, ETH is still down 10% year-to-date. However, Lee believes this trend is set to shift dramatically.
The rise of stablecoins and Wall Street’s growing interest in tokenizing real-world assets is fueling increased demand for Ethereum, which Lee says will drive significant upside potential in the coming years. His forecast suggests ETH could surpass its 2021 all-time high of around $4,880.
Ethereum on the Verge of a Breakout
Fundstrat’s Head of Digital Assets, Sean Farrell, has noted a surge in transaction activity on the Ethereum network, which supports Lee’s bullish outlook.
Lee also expects Ethereum to benefit from a broader rise in risk appetite, aided by anticipated Federal Reserve rate cuts later this year that will boost liquidity—a positive signal for risk assets like cryptocurrencies.
Adding to the momentum, PayPal co-founder Peter Thiel recently acquired a 9.1% stake in Tom Lee’s BitMine, highlighting growing institutional confidence in Ethereum’s future.
Prominent figures in the crypto space echo Lee’s optimism:
- ‘DeFi Dad’ predicts ETH could reach between $15,000 and $30,000 in this cycle.
- Analyst ‘Income Sharks’ expects ETH to hit $5,000 by September.
- Investor ‘CryptoELITES’ forecasts a surge to $10,000.
- Trader ‘Merlijn The Trader’ notes that Ethereum’s technical charts are signaling a breakout, citing strong RSI bounces and sustained price consolidation.
ETH Price Climbs to New Heights
Ethereum surged 5.7% on Wednesday, reaching a five-and-a-half-month high of $3,140—the highest level since early February. Over the past two weeks, ETH has climbed nearly 30%, outperforming the broader crypto market after a prolonged period of stagnation.
Institutional interest continues to drive the rally, with Ether ETFs attracting over $1 billion in inflows last week and ETH treasury companies accumulating more than $1.6 billion in the past month. Retail investors, however, have yet to fully join the surge.
Despite the gains, Ethereum still trades below its July 2024 peak of $3,500, leaving room for further upside as the market continues to develop.
