Tom Lee: ETH is extremely undervalued, could reach $62K

Tom Lee, Chairman of Bitmine (BMNR), said on Dec. 4 that Ethereum (ETH) is currently extremely undervalued, describing it as the future of finance and the center of tokenization. Speaking at the Binance Blockchain Week keynote in Dubai, he noted that ETH is the foundation for stablecoins and institutional tokenization. Lee projected that over $1 trillion in assets, including real estate and financial instruments, will move to the blockchain, with ETH positioned to be the gateway for this transition. He also stated that crypto prices have bottomed out, viewing the recent decline as a deleveraging process rather than a fundamental issue. Lee predicted a market rebound similar to the recovery seen in the eight weeks following the collapse of FTX. Furthermore, he suggested Bitcoin's four-year cycle is broken and that it will establish a new all-time high by early 2026, after which it will trade similarly to the S&P 500 index. Lee emphasized that if BTC reaches $250,000 and the ETH/BTC ratio returns to its eight-year average of 0.25, the price of ETH could rise to $62,000.