Tom Lee: Ethereum could hit $20K as tokenization booms

Tom Lee forecasts Ethereum at $20K, saying BTC’s old cycle is over and ETH will lead tokenized assets as its long consolidation breaks to the upside.

Fundstrat Global Advisors co-founder Tom Lee projected Ethereum could reach $20,000 based on anticipated growth in asset tokenization, according to remarks delivered at the Binance blockchain conference in Dubai this week.

Lee stated that Bitcoin’s traditional four-year cycle has ended and predicted the cryptocurrency would establish new price highs in early 2026. He forecast Bitcoin would track the performance of the S&P 500 stock index in the coming year before reaching a significant price peak.

Tom Lee presents massive Ethereum surge

The analyst suggested Ethereum would benefit substantially from this market environment, citing Wall Street’s increasing adoption of securities tokenization. According to data from RWA.xyz, Ethereum networks currently hold more than 70% market share of real-world asset tokenization value when layer-2 solutions and EVM-compatible platforms are included.

Lee noted Ethereum’s ( ETH ) price has remained range-bound for five years but has recently begun to break out of this pattern. He cited this extended consolidation period as a potential indicator of a significant price movement, explaining his decision to convert BitMine into an Ethereum treasury company.

The executive characterized Ethereum as undervalued at current price levels, projecting the network would become central to future financial infrastructure and payment systems.

BitMine has executed multiple Ethereum purchases this week, according to blockchain analytics platform Lookonchain, though the company has not officially confirmed the transactions. The exact amount of the purchases was not disclosed.

Market analyst using the handle “Sykodelic” provided technical analysis suggesting Ethereum could experience upward price movement. The analyst noted that over the past five years, Ethereum has rebounded significantly when the one-day Relative Strength Index moved from overbought to oversold conditions before breaking trend lines.

Ethereum traded lower during Asian trading hours after failing to break through resistance levels. The cryptocurrency has gained in recent weeks, recovering from a double-bottom formation and appearing to form a W-shaped pattern on price charts.