Recent statements from Fundstrat co-founder Tom Lee raise questions about the true value of Ethereum. According to his forecasts, ETH could reach $10,000, representing nearly a 300% increase from current prices.
Forecast by Tom Lee
Lee asserts that Ethereum is trading below its potential value. He calls the $10,000 prediction reasonable, based on comparative business valuations. In his view, Ethereum's fundamental role in the ecosystem makes it a more valuable asset.
Comparison with Other Assets
Lee mentions Circle's initial public offering, which issues USDC and EURC stablecoins on Ethereum, evaluated at approximately 100 times its EBITDA. This, according to him, highlights the need to reassess Layer-1 blockchain valuations compared to applications built on them.
Current Ethereum Situation
Currently, Ethereum is trading at $2,486.60, reflecting a 4.04% daily decline. Analysts note key resistance and support levels, as well as potential bearish signals. Nonetheless, there are discussions on whether the current level is a healthy consolidation of assets.
Tom Lee's analysis emphasizes Ethereum's undervaluation and presents a basis for consideration of the asset's future, recalling the crucial role it plays in the blockchain ecosystem.
