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Tom Lee forecasted Ethereum at $15,000
Tom Lee predicted Ethereum at $15,000
The news is updating. The price of the second largest cryptocurrency will reach $4000 in the short term and $15,000 in the medium term, believes Fundstrat researcher and chairman of the board of Bitmine Immersion Technologies, Tom Lee.
At the time of writing, the asset is trading around $3800. In the last 24 hours, the coin has increased by 3.82%, over the past seven days by 25.23%, and more than 50% over the month, according to CoinMarketCap.
Farrell estimates the potential market value of Ethereum at $15,000, using EBITDA-based multiples. Fundstrat researchers believe that first-level blockchains like Ethereum serve as the foundation for entire ecosystems and therefore can be valued higher. As an analogy, Li cited software companies with higher multiples compared to firms operating in the consumer goods segment.
He also referred to the technical analysis by Mark Newton, head of technical strategy at Fundstrat, which allows for the growth of Ethereum to $4000 by the end of July.
According to Li, this is just an intermediate target. Given the current pace of adoption and asset valuation, the range of $10,000-15,000 seems achievable by the end of the year — possibly even earlier.
At the beginning of the month, in an interview with CNBC, Tom Lee called Ethereum the preferred choice of Wall Street for blockchain infrastructure. He emphasized that projects from JPMorgan and Robinhood — the JPMD token and the tokenization initiative — are focused specifically on this network.
Li is also confident that the RWA sector will continue to grow rapidly, especially against the backdrop of the growth of the stablecoin segment.