Ethereum “Remains In A Super Cycle” Amid Rising Stablecoin And Onchain Activity, Says Tom Lee
Tom Lee, the CIO of Fundstrat Capital and the Chairman of Bitmine Immersion Technologies, says that Ethereum “remains in a super cycle” as stablecoin demand and on-chain activity continue to rise. In the past 24 hours, the largest altcoin by market cap soared more than 4% to trade at $4,168.35 as of 5:38 a.m. EST, data from CoinMarketCap shows . This recent gain was enough to flip the crypto’s weekly performance into the green as well. However, the altcoin is still down over 16% from the all-time high (ATH) of $4,953.73 that it reached on Aug. 24. Ethereum Price Has Not Caught Up To Strong Fundamentals In a recent X post , Lee said that most of the time, a crypto’s price “leads” fundamentals. He added that there are some instances where the fundamentals lead the price. In the post, the Fundstrat CIO also shared an interview he had with CNBC. During the interview, he said that Ethereum is seeing “so much growth” in it...