Popular market strategist Tom Lee, founder of Fundstrat, has explained why he believes Ethereum (ETH) has the potential to climb to $10,000.
Ethereum’s price has been stuck around $2,400 for some time, without much movement. While some experts like Bitwise think it might not hit new all-time highs this year, Tom Lee remains positive about its future.
In an interview with Coinage, said that even though Ethereum slowed down in innovation for a while, it’s now regaining momentum. One reason is the growing trend of tokenizing real-world assets. This means turning things like dollars, company shares, and other financial products into digital tokens. Big companies like Robinhood and Coinbase’s Base network are already working on Ethereum, which helps strengthen its position in the market.
Lee also explained that Ethereum is mostly U.S.-based or operates under U.S. regulation, making it a safer and more reliable option for handling tokenized financial products.
Another factor, according to Lee, is that many investors have given up on Ethereum, assuming its best days are over. This could actually set the stage for a surprise rally. He said that if the world embraces tokenized assets and starts trading them actively, the value of blockchains like Ethereum will rise sharply.
Tom Lee said, “Ethereum could probably go to $10,000 if the world realizes tokenizing assets is the future.” As this trend grows, demand for Ethereum’s network could increase, pulling its price up with it.
Ethereum’s price is still moving sideways within a broad range between $2,200 and $2,600. It hasn’t decided whether to move higher or drop towards the support zone again. The price briefly dipped below $2,383 but bounced back, showing bulls are still active at this level.
Right now, Ethereum is stuck between the upper and lower boundaries of this range, with no clear breakout yet. If it breaks above the top of the range and holds, the price could target higher levels like $2,530 and $2,780. .
Tom Lee is a well-known American entrepreneur, financial analyst, strategist, and investor. He is the co-founder, managing partner, and Head of Research at Fundstrat Global Advisors, a prominent independent research firm. Lee is frequently featured on CNBC and is recognized for his evidence-based analysis of equity markets, fast-growing technologies, and digital assets like Bitcoin and Ethereum.
Real-world asset tokenization is the process of converting traditional assets (like dollars, shares, or real estate) into digital tokens on a blockchain. Lee believes this trend will significantly increase demand for Ethereum’s network as it’s a primary platform for such activity, driving up ETH’s value.
As the altcoin season begins, the short-term gains make Ethereum a lucrative buying option. However, the long-term promises of this programmable blockchain make it a viable long-term crypto investment.
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