Tom Lee, co‑founder of Fundstrat Global Advisors, told attendees at the Binance blockchain conference in Dubai that Ethereum could reach $20,000 as tokenization of real‑world assets accelerates. Lee argued that the crypto market is entering a new phase in which ETH will play a central role in tokenized securities and payments, and he cited recent on‑chain and market signals to support his view.
Lee said Bitcoin’s classical four‑year cycle has effectively ended and predicted BTC would post new highs in early 2026 after tracking the S&P 500 through 2025. By contrast, he sees Ethereum as undervalued and positioned to lead a wave of institutional and Wall Street adoption tied to asset tokenization.
Data from RWA.xyz show Ethereum networks — including layer‑2s and EVM‑compatible platforms — account for more than 70% of tokenized real‑world asset value, a share Lee used to argue the network’s growing importance to future financial infrastructure. He also pointed to an extended five‑year consolidation in ETH’s price that has recently started to break to the upside, framing the long range as a base for a sizeable move higher.
Lee’s comments coincide with corporate interest in Ethereum exposure. He said his decision to convert BitMine into an Ethereum treasury company reflected that conviction; Lookonchain reports multiple ETH purchases by BitMine this week, though the firm has not publicly confirmed amounts. Market technicians also note bullish signals: one analyst, using the handle “Sykodelic,” highlighted a W‑shaped price pattern and past instances where daily RSI swings from overbought to oversold preceded breakouts over multi‑year ranges.
Despite the constructive narrative, ETH has met near‑term resistance and traded lower in Asian sessions after failing to clear those levels. The market has recently recovered from a double‑bottom and appears to be forming bullish structures on charts, but short‑term volatility and resistance remain considerations for traders.
In sum, Lee forecasts a major upside for Ethereum driven by tokenization and institutional adoption, while expecting Bitcoin to decouple from its old cycle and align more closely with equities before making a renewed run.
