Tom Lee: Ethereum is still in a supercycle
BlockBeats News, on October 26, Tom Lee, Chairman of BitMine, the largest Ethereum holding institution, stated that "Ethereum (ETH) is still in a Supercycle."
Most of the time, price "leads" fundamentals, but there are also times when fundamentals lead price.
· Demand for stablecoins is surging
· Ethereum trading volume has reached a historic high."
In an interview with CNBC, Tom Lee said: "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 the token price—there is usually a lag in market pricing. From my observation, the continued increase in on-chain fundamental activity actually provides a solid basis for major market moves before the end of the year."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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