Tom Lee: Continued Surge in On-Chain Activity on Ethereum Provides Solid Basis for Major Market Moves by Year-End

BlockBeats News, October 25th—Tom Lee stated in an interview with CNBC: "Cryptocurrencies have just experienced the largest deleveraging event in history, with an impact magnitude that could be several times that of the FTX incident, yet bitcoin's ultimate decline was only maintained within the 3%-4% range."

This fully demonstrates that bitcoin itself is becoming a highly resilient store of value. Imagine if a similar shock occurred in the gold market: even in the face of a massive liquidity crisis, if gold's decline was only a few percentage points, the market would regard it as solid proof of its value anchoring. This is exactly what we are seeing with bitcoin now.

Driven by stablecoins, both Ethereum Layer 1 and Layer 2 networks are experiencing significant growth in activity, but this fundamental improvement has not yet been fully reflected in token prices—market pricing typically lags behind. From my observation, the continued heating up of on-chain fundamental activity actually provides a solid basis for major market moves before the end of the year."