The chairman of Ethereum treasury company Bitmine: If the fundamentals are used to estimate the price of ETH, it should be $15,000

PANews reported on August 2 that according to CoinDesk, Tom Lee, co-founder of Fundstrat and chairman of Ethereum treasury company Bitmine Immersion (BMNR), said that the cryptocurrency market should rebound, and some investors do not believe that this rebound is real, and this is precisely why the crypto market may go higher, because "investors have underestimated every recovery since 2020, and this time will be no exception."

Tom Lee added that the traditional financial industry, led by Wall Street, is steadily and quietly increasing its investment in cryptocurrencies. ETH is benefiting from Wall Street's promotion of tokenization. Ethereum has never experienced a downtime, which is crucial for banks. Based on fundamental estimates, ETH should be $15,000 (current price is $3,700). He believes that the real problem is that institutional investors' acceptance of ETH is underestimated, and Ethereum is currently only in the mid-stage of its development.