Ethereum “Stays In A Tremendous Cycle,” Says Tom Lee

Tom Lee, the CIO of Fundstrat Capital and the Chairman of Bitmine Immersion Applied sciences, says that Ethereum “stays in an excellent cycle” as stablecoin demand and on-chain exercise proceed to rise.

Previously 24 hours, the most important altcoin by market cap soared greater than 4% to commerce at $4,168.35 as of 5:38 a.m. EST, knowledge from CoinMarketCap reveals. This current achieve was sufficient to flip the crypto’s weekly efficiency into the inexperienced as nicely. Nonetheless, the altcoin continues to be down over 16% from the all-time excessive (ATH) of $4,953.73 that it reached on Aug. 24. 

Ethereum Worth Has Not Caught Up To Sturdy Fundamentals

In a current X submit, Lee mentioned that more often than not, a crypto’s value “leads” fundamentals. He added that there are some cases the place the basics lead the value. 

Within the submit, the Fundstrat CIO additionally shared an interview he had with CNBC. 

Through the interview, he mentioned that Ethereum is seeing “a lot progress” in its layer-1 (L1) and layer-2 (L2) ecosystems due to stablecoins. Lee then famous that this rise in stablecoin exercise has not but mirrored in ETH’s value, including that “it does take time.” 

Lee went on to say that “elementary exercise on Ethereum is absolutely choosing up.” He mentioned that this helps the argument that the altcoin is poised to expertise a “huge transfer” in the direction of the top of the 12 months. 

Stablecoin Market Cap Surges After GENIUS Act Signing

Lee’s remarks come because the stablecoin market continues to develop, with the sector’s capitalization standing at over $308.62 billion, in keeping with knowledge from DefiLlama. 

Stablecoin market cap (Supply: DefiLlama)

A catalyst for the stablecoin market’s progress was the signing of the GENIUS Act into legislation by US President Donald Trump in July. Since then, the stablecoin market cap has risen from roughly $257 billion to its present stage. 

As regards to market share, many of the world stablecoin provide resides on the Ethereum blockchain. Extra knowledge from DefiLlama reveals that Ethereum has a 53.32% share of the market at the moment, which equates to roughly $162.84 billion. That is greater than double the second-largest market share of 25.78%, which belongs to Tron.

Ethereum TVL Jumps 5% In 24 Hours

Alongside the dominance within the stablecoin market, the Ethereum blockchain has additionally seen its whole worth locked (TVL) rise greater than 5% up to now 24 hours. Consequently, the determine stands at over $90.11 billion. That is additionally greater than 63% of the entire TVL within the crypto market. The following-biggest worth of 8.4% belongs to Solana.

On-chain exercise for Ethereum has additionally soared up to now twelve months. 

Knowledge from YCharts reveals that the variety of every day transactions on Ethereum at the moment stands at roughly 1.311 million. Whereas it is a greater than 16% lower from the 1.567 million transactions seen yesterday, the most recent determine marks an over 14% improve from a 12 months in the past.

BitMine Holds Thousands and thousands Of ETH On Its Steadiness Sheet

BitMine is at the moment the most important company holder of Ethereum globally, in keeping with knowledge from StrategicETHReserve.

With round 3.24 million ETH tokens on its steadiness sheet, the corporate’s holdings are valued at greater than $13.47 billion at present costs. 

BitMine’s final buy was on Oct. 19, when the corporate purchased 203.8K ETH for over $848 million, and was the most recent transfer within the firm’s efforts to personal 5% of the crypto’s provide. 

After the current interview and ETH’s 24-hour achieve, BitMine’s share value rose over 2%. Nonetheless, the corporate’s share value continues to be greater than 5% down on the longer-term month-to-month time-frame.

BitMine share value (Supply: Google Finance) 

In the meantime, Ethereum treasury competitor Sharplink Gaming, which is the second-largest company ETH holder with 859.4K tokens on its steadiness sheet, executed its newest buy within the final 24 hours.

In an X submit, on-chain analytics platform Onchain Lens mentioned that Sharplink added one other 19,271 ETH value $80.37 million to its strategic reserve. 

Sharplink Gaming (@SharpLinkGaming) has added one other 19,271 $ETH, value $80.37M, to its Strategic $ETH reserve.

They now maintain 859,395 $ETH, value $3.58B.

Tackle: 0x5e3b62e38808fc9582c23bc05e8a19a091d979c9

Knowledge @nansen_ai pic.twitter.com/HPPEW1SYpm

— Onchain Lens (@OnchainLens) October 26, 2025

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