PANews reported on August 2nd that according to CoinDesk, Tom Lee, co-founder of Fundstrat and chairman of Bitmine Immersion (BMNR), stated that the cryptocurrency market should rebound. Some investors do not believe this rebound is real, and this is precisely why the crypto market might rise, because "since 2020, investors have underestimated every recovery, and this time will be no exception".
Tom Lee added that the traditional financial industry, led by Wall Street, is steadily and quietly increasing investment in cryptocurrencies. ETH is benefiting from Wall Street's push for tokenization. Ethereum has never experienced downtime, which is crucial for banks. If valued based on fundamentals, ETH should be $15,000 (currently priced at $3,700). He believes the real issue is that institutional investors' acceptance of ETH is underestimated, and the market is currently only in the mid-stage of Ethereum's development.
