FundStrat co-founder Tom Lee said Ethereum could even outperform Bitcoin in the long term, assessing the market growth after data from the consumer price index (CPI) released in the US has improved than expected.
Speaking to CNBC, Lee said the strong liquidity environment is positive for the financial sector, small caps and cryptocurrencies, saying, “Ethereum has skyrocketed 28% this year, surpassing Bitcoin. Our research shows that Ethereum could be the biggest macro trade in the next 10-15 years.”
Lee explained that this optimism stems from the growth of the Stablecoin Ecosystem and Wall Street's move to blockchain. “Stablecoins is offering Crypto a ChatGpt moment. Giants like JPMorgan, Coinbase and Robinhood are developing Ethereum-based solutions. Wall Street is building tokenization of the financial system with regard to ETH,” he added.
Recalling that Standard Chartered raised its year-end Ethereum price target from $4,000 to $7,500, Lee noted that the current $4,700 level is very close to the $4,800 peak in 2021.
Listing positive investors' sentiment in the market amid potential Fed interest rate cuts, a strong revenue season and the macro factors that support the rise of Ethereum, Lee also said he views Nvidia as one of the most important companies in the long run.
*This is not investment advice.
